Technical Analysis – NZDUSD waits for a triangle breakout

Posted on February 5, 2021 at 8:48 am GMT

NZDUSD continues its consolidation phase inside a symmetrical triangle and below the 33-month high of 0.7314. While the price is looking set for another rebound within the formation and near the 50-day simple moving average (SMA), the momentum indicators provide little hope for cheer. The RSI is muted around its 50 neutral mark, and the MACD is gradually diminishing below its red signal line, while the red Tenkan-sen remains flattish slightly below the blue Kijun-sen line. A move above the 20-day SMA [..]


Daily Market Comment – Dollar, stocks rise in tandem as Democrats push ahead with stimulus

Posted on February 3, 2021 at 10:05 am GMT

Democrats move to fast-track Biden’s stimulus package through Congress Wall Street surges for second day on earnings beats, brighter outlook US yield curve steepens, lifting the greenback; euro gets left behind Stimulus and vaccine hopes buoy markets Optimism about a stronger economic outlook and an ebb in the pandemic continued to gather pace on Wednesday, erasing last week’s jitters that sent stocks plunging and the dollar soaring. Equities have since made a powerful comeback, but the US currency has only [..]


Technical Analysis – NZDUSD travels slightly above 20-period SMA; neutral bias in short term

Posted on February 3, 2021 at 9:46 am GMT

NZDUSD is moving horizontally over the last three weeks around the 20- and 40-period simple moving averages (SMAs), remaining above the long-term ascending trend line. The RSI is heading upwards with weak momentum, approaching the positive territory, however, the MACD is falling beneath its trigger line, mirroring the latest decline in the price action from the 33-month high of 0.7314. Immediate resistance would likely come from the 0.7245 barrier ahead of the 33-month high of 0.7314. If there is a successful break [..]


US Open Note – Stocks resume gains; oil pushes higher

Posted on February 2, 2021 at 1:59 pm GMT

Dollar, stocks and oil advance even higher One of the main highlights today is the rally in the US dollar, which is still moving higher, near 105.00 versus the Japanese yen. The dollar index is slightly up, while US stocks were re-energized as investors awaited a slew of earnings from corporate America including Exxon Mobil, and Alphabet. The US economy will return to pre-pandemic levels even without another shot of stimulus, announced a study of the Congressional Budget Office. This will endorse the Republicans’ that there is no need for one [..]


Daily Market Comment – Dollar holds firm after gains as stimulus eyed; Reddit frenzy eases

Posted on February 2, 2021 at 10:06 am GMT

Dollar approaches 2-month top as stimulus hopes push up yields, euro falters Stocks rise again as Wall Street rebounds, retail craze cools, silver plunges Aussie bounces back, shrugs off surprise QE boost by RBA A dollar comeback? The US dollar appears to be on the rise again, mirroring a similar upward drive in 10-year Treasury yields in recent days. Expectations that the United States is moving closer to another big stimulus package lifted the greenback to near 2-month highs against [..]


Week Ahead – NFP bounce, stimulus progress might calm markets; BoE and RBA eyed

Posted on January 29, 2021 at 1:41 pm GMT

It’s going to be a relatively busy start to February as investors will be hoping the latest US jobs report will confirm that December’s rough patch was short lived. However, that won’t be the only data to test the market mood as preliminary GDP numbers out of the Eurozone could heighten fears of a double-dip recession. In the world of central banks, the first policy decisions of the year are due in Australia and Britain. The Reserve Bank of Australia [..]


Technical Analysis – NZDUSD retests 200-period SMA; bearish bias

Posted on January 29, 2021 at 10:17 am GMT

NZDUSD is outperforming over the last three weeks in a descending channel, holding near the 200-period simple moving average (SMA) and beneath the Ichimoku cloud. The RSI is sloping marginally up in the bearish region, while the MACD is trying to surpass the trigger line below the zero level. The 20- and 40-period SMAs created a bearish crossover, pointing to more downside movement. If the bulls dominate above the 200-period SMA, the spotlight will shift back to the 0.7195 resistance, [..]


Dollar remains overvalued; can America’s twin deficits still sink it? – Special Report

Posted on January 28, 2021 at 2:28 pm GMT

The US dollar ended a volatile 2020 down 6.5% against a basket of currencies, underlining the dramatic turnaround in risk appetite from the depths of the March virus crisis. That risk rally is showing no sign of abating anytime soon, driving bearish bets against the dollar to near-decade highs. Nevertheless, the dollar’s negative outlook is becoming increasingly murky as the US economy is poised to outperform its peers in 2021. In view of this, can America’s soaring current account and [..]


Technical Analysis – NZDUSD consolidates but senses improvements

Posted on January 27, 2021 at 9:03 am GMT

NZDUSD is finding some support from the flattening Ichimoku lines while primarily creeping sideways, after the small pullback from the multi-year high of 0.7314. The Ichimoku lines are reflecting the pause in advances, while the soaring simple moving averages (SMAs) are protecting the bullish picture. The short-term oscillators are demonstrating minor stalling in positive momentum. The MACD, in the positive zone, is pushing back above its red trigger line, while the RSI is trying to sustain improvements in the bullish [..]


Daily Market Comment – Stocks retreat, dollar edges up as virus concerns creep in again

Posted on January 22, 2021 at 10:11 am GMT

Equity rally loses steam after strong weekly gains amid renewed virus jitters Talk of Biden tax increases also undermines risk appetite, lifting the dollar Poor data pull down pound and aussie but euro fares better after ECB stays put Virus outbreaks, recession fears cap risk rally The stimulus-led stock market rally faltered on Friday as investors paused for breath after sharp gains in a week when US President Joe Biden formally took office, reaffirming expectations of higher spending and borrowing [..]

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