NZD/USD continues scaling higher on Friday and climbs to over a two-month high The uncertainty over the next Fed rate hike keeps the USD bulls on the defensive. A positive risk tone also seems to cap the USD and benefits the risk-sensitive kiwi. The NZD/USD pair prolongs this week’s strong move up and gains traction… Read More »
NZD/USD snaps four-day uptrend around the two-month high. Nearly overbought RSI, pullback from monthly resistance line add strength to bearish bias. Tops marked during mid-June, early-August lure near-term sellers ahead of monthly support line. NZD/USD holds onto the previous day’s pullback from a two-month high as the adjacent key resistance line and 100-DMA challenge buyers… Read More »
NZD/USD is advancing towards its two-month high at 0.6260 as Business NZ PMI lands higher at 52.7. A fourth consecutive 50 bps rate hike is expected by the RBNZ. The impact of the lower US CPI print is fading away and investors are focusing on Fed’s next meeting. The NZD/USD pair has continued its four-day winning… Read More »
“The Reserve Bank of New Zealand (RBNZ) will stick to its hawkish stance and deliver a fourth straight half-point rate hike on Wednesday in its most aggressive tightening in over two decades to try to rein in stubbornly-high inflation,” as per the latest Reuters poll published early Friday morning in Asia. Key findings All 23… Read More »
The NZD/USD advances for the second straight day, up in the week by 3.03%. The US PPI for July rose by 9.8% YoY, less than estimates and last month’s reading. US Initial Jobless Claims jumped for two consecutive weeks, hinting the labor market is moderating. The NZD/USD climbs above the 100-day EMA around 0.6439, courtesy… Read More »
NZD/USD rallied to fresh corrective highs on US CPI. The price is in no man’s land at this juncture, a bearish correction, as per the W-formation on the daily chart, could be on the cards. NZD/USD is 1.85% higher, rising from a low of 0.6275 on the day to reach a high of 0.6434. The… Read More »
The NZD/USD is advancing more than 2% on Wednesday, courtesy of broad US dollar weakness. Investors’ mood shifted positively once US inflation cooled down, while traders expected a less aggressive US Fed. US headline inflation and core CPI were lower and aligned with estimations. Fed’s Evans expects the Federal funds rate (FFR) to finish around… Read More »
NZD/USD remains mildly bid as bulls approach short-term resistance line amid sluggish session. Sustained trading beyond 50-HMA, firmer RSI adds strength to bullish bias. One-week-old horizontal support area adds to the downside filters. NZD/USD picks up bids to 0.6290 as buyers struggle to keep reins during the dicey session heading into the European open on… Read More »
NZD/USD is scaling towards 0.6300 as the DXY has declined ahead of US CPI. A lower consensus for the US CPI has forced investors to dump the DXY. China’s inflation has increased to 2.7% but remained lower than expectations. The NZD/USD pair is advancing sharply towards the round-level resistance of 0.6300 after the National Bureau… Read More »
NZD/USD bulls need to commit or face being a move into the point of control. The daily chart shows prices bounded by channel support and resistance. NZD/USD is consolidated within a daily range of around 0.6280 with prospects of a move to the ceiling of the channel near 0.6335 but with equal possibilities of a move… Read More »
