New Zealand Dollar: NZD/USD (NZD=X) Expanded QE, but more to come Last week saw three big developments. The country took an enormous steptowards normality by moving into Alert Level 2; the RBNZ at its Monetary Policy Statement scaled up QE to $60bn and left all other tools on the table; and the Government delivered a […]
New Zealand Dollar: NZD/USD (NZD=X) Momentum Shift May Lead to Test of .6671 – .6692 The New Zealand Dollar is strengthening against the U.S. Dollar on Thursday, following through on the move from the previous session that reversed earlier losses. The currency is likely being supported by hopes the U.S.-China trade deal, signed on Wednesday, […]
New Zealand Dollar: NZD/USD (NZD=X) RBNZ Governor Adrian Orr Addresses Dairy Debt Situation On Wednesday, the Reserve Bank of New Zealand (RBNZ) released its financial stability report. In its latest report, it said options to address excessive daily debt are limited as farm sales are at historically low levels. The dairy sector has limited options […]
New Zealand Dollar: NZD/USD (NZD=X) stalls as US-China deal awaited The New Zealand dollar remained stalled amid increasingly positive signs the US and China will soon sign a preliminary trade deal and after Federal Reserve chair Jerome Powell made it clear further US interest rate cuts are unlikely. Overnight, New Zealand time, US President Donald […]
New Zealand Dollar: NZD/USD (NZD=X) report showing much-better-than-expected September quarter retail sales data The New Zealand Dollar is getting a boost on Tuesday following a report showing much-better-than-expected September quarter retail sales data. Figures released earlier today showed seasonally adjusted retail sales volumes rose 1.6 percent in the three months ended September 30, more than […]
New Zealand Dollar: NZD/USD (NZD=X) likely being supported by upbeat comments about a trade deal over the week-end The New Zealand Dollar is trading higher early Monday with the currency likely being supported by upbeat comments about a trade deal over the week-end. United States national security adviser Robert O’Brien said on Saturday that an […]
New Zealand Dollar: NZD/USD (NZD=X) Early Price Action Suggests Investor Indecision The Australian and New Zealand Dollars are trading higher on Friday, reversing yesterday’s weakness. The choppy price action this week reflects investor uncertainty over whether the United States and China will sign some sort of trade agreement in the coming weeks. During the week, […]
New Zealand Dollar: NZD/USD (NZD=X) no indicators on the calendar NZD/USD has lost ground on Wednesday, after posting considerable gains on Tuesday. In the European session, the pair is trading at 0.6417, down 0.23% on the day. There are no New Zealand indicators on the calendar. NZD/USD Technical Analysis NZD/USD tested resistance at 0.6420 on Tuesday […]
New Zealand Dollar: NZD/USD (NZD=X) Buyers Aren’t Straying Far From 0.8500 From the daily chart, we notice on Aug 15 NZD/USD declined to a lower trading zone 0.6236 – 0.6438. Since then, buyers failed in multiple occasions to push the price to the higher zone. On Nov 8, the pair rallied before testing the low […]
New Zealand Dollar: NZD/USD (NZD=X) sharply higher after wholesale interest rates spiked after the Reserve Bank left its official cash rate (OCR) unchanged The New Zealand Dollar finished the week sharply higher after wholesale interest rates spiked after the Reserve Bank left its official cash rate (OCR) unchanged at 1 percent. Market expectations were weighted […]
New Zealand Dollar: NZD/USD (NZD=X) support at 0.6330 After posting losses for three straight sessions, NZD/USD is flat in Thursday trade. In the European session, the pair is trading at 0.6367, up 0.04% on the day. There are no New Zealand events for the remainder of the week. NZD/USD Technical Analysis NZD/USD has moved lower this week, […]
New Zealand Dollar: NZD/USD (NZD=X) Job Data Within Expectations NZD/USD has posted small losses in Wednesday trade. New Zealand Job Data Within Expectations There were no surprises from New Zealand’s employment numbers for the third quarter. The numbers were weaker in the Q3, as the U.S.-China trade war and weaker global demand continue to weigh on […]
New Zealand Dollar: NZD/USD (NZD=X) buyers will return and the uptrend will resume soon Risk currencies had a great time in October. The risk sentiment improved in financial markets after the US-China partial trade deal and the Brexit deal, although the latter didn’t pass the British Parliament. As a result, NZD/USD turned bullish and it climbed more […]
New Zealand Dollar: NZD/USD (NZD=X) consolidates above 0.64 The NZD rose to its highest level since mid-August, at 0.6457, before closing the week around 0.6430. The NZD was up 0.2% on Friday, bringing its weekly gain to 1.2%. The broad-based weakness in the USD and the market’s paring back of OCR rate cut expectations combined […]
New Zealand Dollar: NZD/USD (NZD=X) pushing higher There is a risk-on feel in the air in Asian trade today and the Aussie and Kiwi are both pushing higher. Overnight, there was certainly optimism around as US President Trump suggested that he expected to sign a significant part of the trade deal with China ahead of […]
New Zealand Dollar: NZD/USD (NZD=X) Target 0.62 NZD/USD NZD/USD is slightly lower in Thursday trade. In the European session, the pair is trading at 0.6402, down 0.25% on the day. NZD/USD Technical Analysis NZD/USD tested resistance at 0.6420 in the Asian session. This line is proving to be resilient and has held firm since mid-September. Traders […]
New Zealand Dollar: NZD/USD (NZD=X) Trade Deficit Drops, Beats Forecast New Zealand’s trade deficit narrowed to NZ$1.24 billion in September, dropping sharply from the deficit of NZ$1.56 billion in August. This beat the estimate of NZ$1.37 billion. The improvement was credited to stronger sales of meat and milk, both of which are key export products. […]
New Zealand Dollar: NZD/USD (NZD=X) Ignores Soft Cons. Spending Report New Zealand Credit Card Spending for September gained 4.8% in September, sharply lower than the August gain of 6.0%. This points to lower consumer spending, a key driver of economic activity. Still, the New Zealand dollar is in positive territory on Tuesday. We’ll get a […]
New Zealand Dollar: NZD/USD (NZD=X) Prolonged Short-Squeeze Could Drive Kiwi into .6451 Over Near-Term Optimism over Brexit may be behind the New Zealand Dollar’s early strength on Monday, however, the move is likely being fueled by a short-squeeze that began last week following the release of a report showing a slight improvement in quarterly consumer […]
New Zealand Dollar: NZD/USD (NZD=X) may reverse gains after rosy NZ CPI data The New Zealand Dollar rose in morning Wednesday trade after a round of rosy local inflation data crossed the wires. In the third quarter, New Zealand CPI clocked in at 1.5 percent y/y versus 1.4% expected, though down from 1.7 in Q2. […]
New Zealand Dollar: NZD/USD (NZD=X) Eyes CPI The Kiwi is on the defensive ahead of the key NZ inflation report. Headline CPI is seen dropping to 1.4% from 1.7%, however, a reading of 1.4% would still be ahead of the RBNZ’s forecast of 1.3%. Technical Indicators Overall, the bias in prices is: Downwards. The projected […]
New Zealand Dollar: NZD/USD (NZD=X) seem to be tracing out a bullish Head and Shoulders The New Zealand Dollar may be carving out a bottom against its US counterpart. Prices seem to be tracing out a bullish Head and Shoulders (H&S) reversal pattern having tested four-year support in the 0.6197-0.6268 area. Positive RSI divergence points to ebbing […]
New Zealand Dollar: NZD/USD (NZD=X) One Small Step Away From a Major Buy Signal There is no trading signal here yet, but once it will be triggered, we should receive a sweet long-term deal, with a target of hundreds of pips. This setup is present on the NZDUSD and for a legitimate signal we just need several […]
New Zealand Dollar: NZD/USD (NZD=X) lowest level in a decade From the daily chart, we notice on Oct 1 NZD/USD declined to its lowest level in a decade. However, the price remained in the current trading zone 0.6236- 0.6438 indicating to seller’s hesitation to keep pressing the price at this stage. Additionally, we notice a […]
New Zealand Dollar: NZD/USD (NZD=X) statement from the RBNZ was rather more upbeat than the markets were expecting Nearly two weeks ago, the Reserve Bank of New Zealand (RBNZ) left the Official Cash Rate unchanged at 1%, but said there is still scope for further stimulus if necessary. The RBNZ said that new information it […]
New Zealand Dollar: NZD/USD (NZD=X) only up on US dollar weakness after the manufacturing data The New Zealand dollar was treading water after gaining on US dollar weakness when soft data added to concerns that the US-China trade war is negatively impacting the US economy. The kiwi was trading at 62.46 US cents at 5:30 […]
New Zealand Dollar: NZD/USD (NZD=X) lowest level in 10 years Today, AUD/USD resumed bearish price action after breaking below the level discussed in our last update. Later, the price pressed below the Aug 7 low (monthly support) at 0.6677 printing its lowest level in 10 years at 0.6672. Similarly, NZD/USD printed 0.6203 – its lowest level in 10 years. Since […]
New Zealand Dollar: NZD/USD (NZD=X) rapidly approaching a four-year low The New Zealand Dollar is rapidly approaching a four-year low against the U.S. Dollar on Monday after data showed that business confidence in the country was deteriorating quickly amid a global economic slowdown, despite an aggressive rate cut by the central bank designed to prop […]
New Zealand Dollar: NZD/USD (NZD=X) Minor Pivot at .6302 Controlling Price Action Based on Friday’s price action and the close at .6296, the direction of the NZD/USD on Monday is likely to be determined by trader reaction to the minor pivot at .6302. The New Zealand Dollar posted a second consecutive inside move on Friday […]
New Zealand Dollar: NZD/USD (NZD=X) Dips on Dovish NZ Central Bank The New Zealand central bank maintained the benchmark rate at an even 1.0% Wednesday. This decision had been priced in by the markets. However, the NZ dollar still fell 0.70% after the bank’s policy meeting, as the bank said it was keeping the door […]
New Zealand Dollar: NZD/USD (NZD=X) Firms After RBNZ Leaves Rates Unchanged Early Wednesday, the RBNZ held its Official Cash Rate (OCR) at 1 percent, as had been widely expected by analysts. This following a surprise 50-basis point cut to the OCR in August. The RBNZ also added in its statement that new information since August […]
New Zealand Dollar: NZD/USD (NZD=X) in a strong downtrend The NZD/USD is in a strong downtrend. If we see a pullback the POC zone should show fresh sellers and the Kiwi should drop again. 0.6320-50 is the confluence zone. Watch for rejections in the area if the price pulls back. We can see a strong zig […]
New Zealand Dollar: NZD/USD (NZD=X) Could Still Edge Lower During Friday’s trading session, the New Zealand Dollar depreciated about 47 basis points against the US Dollar. The 50– hour simple moving average pressured the currency pair lower during the previous session. Everything being equal, it seems that the exchange rate will continue to edge lower […]
New Zealand Dollar: NZD/USD (NZD=X) target 0.5989 From the daily chart, we notice since Sep 6 NZD/USD has failed in multiple occasions nearby the high end of current trading zone 0.6236 – 0.6438. The price changed direction eyeing a test of the low end. Hence, a close below the low end of the zone could […]
New Zealand Dollar: NZD/USD (NZD=X) All eyes on Fed NZD/USD has posted modest losses on Wednesday, erasing the short-lived gains we saw on Tuesday. In the Asian session, the pair is trading at 0.6337, down 0.36% on the day. Ahead – New Zealand GDP Weak global conditions and the ongoing U.S-China trade war have taken a […]
New Zealand Dollar: NZD/USD (NZD=X) has been hit by weak global conditions and U.S-China trade war NZD/USD ended the week on a whimper and the lack of activity has continued on Monday. In the Asian session, the pair is trading at 0.6385, up 0.02% on the day. Ahead – Consumer Confidence Consumer confidence has dipped, as […]
New Zealand Dollar: NZD/USD (NZD=X) fallen away in early Asian trade The New Zealand Dollar closed lower against the U.S. Dollar on Friday as investors continued to show almost no reaction to a number of conciliatory gestures between the United States and China that could be signaling an easing of tensions over the prolonged trade […]
New Zealand Dollar: NZD/USD (NZD=X) Dollar Flat, U.S. PPI Next The NZD/USD has been flat all week, as the pair seems quite comfortable trading between 0.6400 – 0.6450. With no major New Zealand events for the remainder of the week, the focus will shift to U.S. economic reports. On Wednesday, the Producer Price Index (PPI) […]
New Zealand Dollar: NZD/USD (NZD=X) technicals indicates buyer’s weakness to rally the price further From the daily chart, we notice on Friday NZD/USD rebounded then closed below the high end of current trading zone 0.6224 – 0.6438. Same thing happened on Monday, indicating to buyer’s weakness to rally the price further. Hence, NZDUSD could be […]
New Zealand Dollar: NZD/USD (NZD=X) Manufacturing Reports in Spotlight The new trading week kicked off on a sour note, has manufacturing sales slipped 0.7% in the second quarter. This marks a second decline in the past three months, as the US-China trade war continues to take a toll on New Zealand’s manufacturing sector. On Thursday, […]
New Zealand Dollar: NZD/USD (NZD=X) Strengthens Over .6466, Weakens Under .6428 The New Zealand Dollar finished higher on Friday, posting its sixth consecutive gain in the process. Traders haven’t turned bullish on the Kiwi, but they may have overdone it on the short side after posting six consecutive losing weeks. Traders still believe the Reserve […]
New Zealand Dollar: NZD/USD (NZD=X) plunged on a combination of weak domestic data and a somewhat hawkish U.S. Federal Reserve The New Zealand Dollar plunged on Wednesday on a combination of weak domestic data and a somewhat hawkish U.S. Federal Reserve. A survey of New Zealand business confidence came in lower than expected, increasing the […]
New Zealand Dollar: NZD/USD (NZD=X) major players on the sidelines ahead of the U.S. Federal Reserve policy announcement and interest rate decision The New Zealand Dollar is trading in a tight range against the U.S. Dollar for a second straight session on Tuesday. With most of the major players on the sidelines ahead of the […]
New Zealand Dollar: NZD/USD (NZD=X) Traders Pricing in Rate Cuts Last week, the RBNZ made an announcement that showed policymakers believe the New Zealand economy is no longer immune to unconventional policy. The central bank cut its benchmark rate to 1.5% in May and economists expect another reduction on August 6 amid tepid inflation and […]
New Zealand Dollar: NZD/USD (NZD=X) direction likely to be determined by trader reaction to the short-term 50% level at .6687 The New Zealand Dollar continues to feel pressure from a Reserve Bank of New Zealand report that showed it is at a “very early stage” in refreshing its “unconventional monetary policy strategy.” Traders are also […]
New Zealand Dollar: NZD/USD (NZD=X) June trade surplus was wider than expected The New Zealand Dollar is trading lower early Wednesday as the U.S. Dollar rose in reaction to news that U.S. trade negotiators will head to China to recommence trade talks. U.S. trade negotiators are planning to head to China for face-to-face talks as […]
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 […]