Daily Market Comment – Dollar whipsaws on Fed’s dovish guidance, upbeat forecasts

Posted on December 17, 2020 at 9:56 am GMT

Fed commits to current pace of QE until it sees “substantial further progress” Dollar jumps on modest tweak, rosy outlook before being pummelled by dovish Powell Pound continues to soar on Brexit deal optimism, euro climbs new highs too Aussie and kiwi on a roll as strong data, US stimulus hopes maintain bullish momentum Fed disappoints before Powell has to reassure The Federal Reserve pledged on Wednesday to keep buying bonds at the existing pace of $120 billion per month [..]


New Zealand to post Q3 GDP as recovery gathers steam, kiwi soars – Forex News Preview

Posted on December 16, 2020 at 3:29 pm GMT

Third quarter GDP figures are scheduled for release in New Zealand on Thursday (Wednesday, 21:45 GMT), following hot on the heels of the government’s upwardly revised economic projections earlier today. The Pacific nation’s economy is forecast to have bounced back strongly in Q3 despite its biggest city – Auckland – spending much of August and September under lockdown. Although the now ‘outdated’ data won’t change anything as far as the outlook is concerned, it could reinforce the kiwi’s uptrend if [..]


Daily Market Comment – Two deals in the making and a Fed dilemma

Posted on December 16, 2020 at 10:10 am GMT

US congressional leaders close in on a stimulus deal as talks continue Brexit chatter lifts pound amid rumours a trade deal is within grasp Dollar on the backfoot ahead of least predictable Fed meeting of the year Hopes rise for a deal in Congress Hopes are running high on Capitol Hill that a stimulus deal can be reached after reported progress on Tuesday. US political leaders are set to meet again later today as they inch closer to agreeing on [..]


Technical Analysis – NZDUSD flirts with 32-month peak; bulls have control

Posted on December 16, 2020 at 7:47 am GMT

NZDUSD has been in a strong bullish tendency since March 19, reaching a fresh 32-month high of 0.7119 on Monday. The flatten mode around the overbought territory in the RSI and the slowdown in the MACD oscillator show somewhat weak buying pressure, though both remain well above their neutral thresholds keeping the short-term risk skewed to the upside. In trend indicators, the bullish cross between 20- and 40-day simple moving averages (SMAs), created at the beginning of the previous month, [..]


Daily Market Comment – Dollar steadies amid fresh virus restrictions; stimulus and Brexit talks linger

Posted on December 15, 2020 at 9:36 am GMT

Tighter virus restrictions dampen vaccine optimism; dollar halts slide, stocks struggle US stimulus talks gain momentum but still no agreement London lockdown knocks pound off its Brexit perch as ‘narrow path’ to deal eyed New virus curbs weigh on sentiment Optimism that an end to the global pandemic is within sight was unable to override the darkening clouds on the immediate horizon as Covid restrictions are on the up again. After Germany’s news that it is to enter a hard [..]


Daily Market Comment – Pound jumps as Brexit deadline extended yet again

Posted on December 14, 2020 at 9:47 am GMT

Pound soars after Britain and the EU agree to continue talking Progress in US stimulus talks also lifts markets’ spirits, dollar sags But cause for caution ahead of Fed meeting, stocks up modestly UK and EU agree to go “extra mile” to get a deal After a bruising week, sterling was once again riding high on renewed optimism for a post-Brexit trade deal on Monday. UK Prime Minister Boris Johnson and European Commission President Ursula von der Leyen had set [..]


Technical Analysis – NZDUSD’s bullish bias durable despite consolidation   

Posted on December 11, 2020 at 1:46 pm GMT

NZDUSD is retreating from its freshly plotted 31½-month high of 0.7113 in the four-hour chart, as positive drive seems to have taken the back seat, something also reflected in the directionless Ichimoku lines. That said the solid bullish bearing of the simple moving averages (SMAs) is protecting the uptrend. The short-term oscillators are communicating conflicting signals in directional momentum. The MACD, above zero and its red trigger line, is conveying improvements in price, while the recently turned bearish stochastic oscillator, [..]


Technical Analysis – NZDUSD restores bullish momentum; uptrend solid and intact

Posted on December 9, 2020 at 11:02 am GMT

NZDUSD pivoted higher early on Wednesday and towards its 32-month top of 0.7100, refusing to abandon the 0.7000 area for the time being. The RSI is also reluctant to exit the overbought zone, suggesting that although the market remains vulnerable to downside corrections, there is still some bullish fuel left in the tank. The upside reversal in the fast-stochastics and the fact that the price continues to fluctuate within the upper Bollinger area is also keeping the short-term bias tilted to the upside. [..]


After the vaccine boost, what’s next for the commodity dollars? – Special Report

Posted on December 4, 2020 at 1:54 pm GMT

It’s been a roller-coaster year for the commodity-linked dollars of Canada, Australia and New Zealand as the global pandemic has wreaked havoc on international trade and on commodity prices – the lifelines of the three economies. But as countries around the world make progress towards recovering from the once-in-a-generation crisis, Australia and New Zealand seem poised to bounce back the quickest. Canada’s recovery may be slightly shakier due to its over dependency on the United States and oil exports. But [..]


Technical Analysis – NZDUSD pulls under Ichimoku lines; bullish structure unbroken     

Posted on December 4, 2020 at 10:42 am GMT

NZDUSD is receding below the flattening blue Kijun-sen line around 0.7054 in the four-hour chart, after a bullish trend off 0.6612 thrusted the pair up towards a 31-month high of 0.7103. The Ichimoku lines are indicating some stalling in positive price action, while the soaring simple moving averages (SMAs) are safeguarding the positive structure. Nevertheless, the short-term oscillators are echoing clues that a deeper negative retracement could unfold before the climb resumes. The MACD, after hovering for some time beneath [..]

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