New Zealand Dollar: NZD/USD (NZD=X) RBNZ on course for an interest rate cut in August The idea that the RBNZ could be moving towards QE has weighed on the bird in Asia today, as markets are looking for clues as to which of the central bank will be the first to the bottom. So far, […]
New Zealand Dollar: NZD/USD (NZD=X) risk for some pullback The Kiwi breakout looks precarious here near-term after taking out targets into 6766 – Risk for some pullback early in the week but the trade remains constructive while above 6705. Subsequent topside resistance objectives at 6805 and 6843. Overall, the bias in prices is: Upwards. By the way, prices are vulnerable to a correction […]
New Zealand Dollar: NZD/USD (NZD=X) direction likely to be determined by trader reaction to a pair of Gann angles at .6627 and .6647 The New Zealand Dollar took a hit on Friday after the U.S. Dollar rallied sharply in reaction to a report from the U.S. Labor Department which revealed non-farm payrolls rose by 224,000 […]
New Zealand Dollar: NZD/USD (NZD=X) downside risks related to trade activity have intensified The Reserve Bank of New Zealand (RBNZ) held interest rates steady on June 26, but said further cuts to borrowing costs may be needed given growing economic risks at home and abroad. The RBNZ kept the official cash rate (OCR) at a […]
New Zealand Dollar: NZD/USD (NZD=X) hovering near the 0.65 mark It has been a quiet start to an action-packed week, with modest movements in equities, bonds and currency markets. The NZD is hovering near the 0.65 mark, while the AUD has slipped overnight to 0.6850. Markets are in a holding pattern, with focus firmly directed […]
New Zealand Dollar: NZD/USD (NZD=X) next upside target is the April 30 main top at .6686 The New Zealand Dollar finished higher on Friday as a weaker-than-expected U.S. Non-Farm Payrolls report helped raise the chances of a sooner-than-expected rate cut by the U.S. Federal Reserve. As the odds of the rate cut increased, the 10-year […]
New Zealand Dollar: NZD/USD (NZD=X) downside targets are the minor bottom at .6456 and the main bottom at .6424 The main trend is down according to the weekly swing chart. The next downside targets are the minor bottom at .6456 and the main bottom at .6424. The main trend will change to up on a […]
New Zealand Dollar: NZD/USD (NZD=X) will be primarily driven by the Employment Change and Unemployment Rate report The New Zealand Dollar was dragged lower by the severe sell-off in the Australian Dollar. A similar miss in New Zealand inflation data released earlier in April drove the chances of a Reserve Bank of New Zealand rate […]
New Zealand Dollar: NZD/USD (NZD=X) volatility could be heightened In New Zealand, the RBNZ was quite clear last month when it said the next policy change by the central bank is likely to be a rate cut. Furthermore, last week’s CPI data served as proof that the economy is weakening. Therefore, justifying the rate cut. […]
New Zealand Dollar: NZD/USD (NZD=X) Pressured by Weak CPI Data After opening the week steady, the New Zealand Dollar took a dive on Wednesday and never recovered, finishing near its low for the week. The catalyst behind the selling pressure was weaker-than-expected consumer inflation data. The bearish news was offset slightly and temporarily by positive […]
New Zealand Dollar: NZD/USD (NZD=X) traders have been given their dovish marching orders from the RBNZ There are no major events out of New Zealand this week, but traders have been given their dovish marching orders from the RBNZ. In Australia, investors will get the opportunity to react to Westpac Consumer Sentiment and the RBA […]
New Zealand Dollar: NZD/USD (NZD=X) sellers struggling to breach 6-month trend line support The New Zealand Dollar has not made much progress since last week’s dramatic drop against its US namesake. Sellers have attempted to force a breakdown, but a lasting breach of rising trend support guiding the Kiwi higher since early October 2018 lows […]
New Zealand Dollar: NZD/USD (NZD=X) still trading within the 2019 consolidation range Kiwi rebounded off slope support last week with price still trading within the 2019 consolidation range. Key support at last week’s low – resistance at 6837 backed by 6870/76. A break / close lower would exposes the 200DMA at 6735 and 6722. Overall, the bias in prices is: […]
New Zealand Dollar: NZD/USD (NZD=X) weighed down early in the session by steep falls in Asian stocks The Australian and New Zealand Dollars rebounded after early session weakness on Monday to close higher for the session. The rally was fueled by another steep drop in U.S. Treasury yields. The yield on the benchmark 10-year Treasury […]
New Zealand Dollar: NZD/USD (NZD=X) to strengthen further We have held the same view since last Tuesday (12 Mar, spot at 0.6835) wherein we expected NZD to trade sideways within a 0.6750/0.6885 range. Over the past couple of days, we warned that “the prospect for a break of 0.6885 first appears to be higher but […]
New Zealand Dollar: NZD/USD (NZD=X) gradually making a new higher highs and lower lows The New Zealand Dollar is gradually making a new higher highs and lower lows since the currency pair bounced off a support level formed by the 200-hour simple moving average at 0.6809 on March 14. The exchange rate tested a resistance […]
New Zealand Dollar: NZD/USD (NZD=X) Tests Support The New Zealand Dollar has declined about 0.86% against the US Dollar during the last 24 hours. A breakout occurred through the lower boundary of a junior ascending channel pattern during Thursday’s trading session. Given that a breakout had occurred, it is likely that the currency exchange rate […]
New Zealand Dollar: NZD/USD (NZD=X) the theme has continued with a mix of “risk on” sentiment The New Zealand Dollar (NZD) received a boost Friday after broad based declines in the US Dollar (USD) took the kiwi off the low of 0.6744 to close at 0.6800. This week the theme has continued with a mix […]
New Zealand Dollar: NZD/USD (NZD=X) break above 0.68 to see further upside NZD/USD is trading around 0.68 handle at 0545 GMT, up 0.02% at the time of writing. The pair has bounced off strong support at 200-DMA and we see weakness only on break below. Price action is holding above 5-DMA and technical studies are […]
New Zealand Dollar: NZD/USD (NZD=X) Expected Change Weekly Trend to Down Rising U.S. Treasury yields and weaker-than-expected domestic data weighed on the New Zealand Dollar last week. The price action suggests the selling is likely to continue early this week. Treasury yields were driven sharply higher by stronger-than-expected U.S. Gross Domestic Product data, which helped […]
New Zealand Dollar: NZD/USD (NZD=X) Climb Vs. The US Dollar In line with BK Asset Management’s FX forecasts, the Euro (EUR), Australian and New Zealand Dollars (AUD, NZD) all rose against the US Dollar (USD) during Tuesday’s session amid Fed Chair Jerome Powell’s testimony on US monetary policy and economic outlook. EUR/USD gained 0.28% over […]
New Zealand Dollar: NZD/USD (NZD=X) gained on the back of comments by President Trump Both the Aussie and Kiwi gained on the back of comments by President Trump, in which he stated that he would delay the planned tariff increase on Chinese imports (Deadline March 1st) and that he will be looking to have summit […]
New Zealand Dollar: NZD/USD (NZD=X) positive trade outcome between the US and China would be good for the Kiwi currency The NZD/USD rate reached a low 0.6770 on Friday 22 February, however has since recovered to 0.6840. The whip-saw movements of both currencies in the end turning out to be a bit of a storm […]
New Zealand Dollar: NZD/USD (NZD=X) experienced their worst days in years The rally on Wall Street paused after the S&P 500 halted its 5-day winning streak and closed lower 0.22%. Pessimism in investors started building up earlier in the day on disappointing German economic data. Factory orders contracted 7.0% y/y in December versus 6.7% expected, […]
New Zealand Dollar: NZD/USD (NZD=X) further growth may be cancelled NZDUSD is trading at 0.6896; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the upside border of the cloud at 0.6860 and then resume moving upwards to reach 0.7010. Another signal to confirm […]
New Zealand Dollar: NZD/USD (NZD=X) pullback likely to bring another leg higher NZD/USD has been drifting lower since Friday’s high, with the pair moving into the potential ascending trendline support. The trend over the short term points towards this sell-off being temporary, with another leg higher likely before long. As such, this sell-off looks like a […]