Technical Analysis – NZDUSD develops above MAs; bullish signals grow

Posted on October 23, 2020 at 12:07 pm GMT

NZDUSD maintains a positive tone despite stalling slightly above the 0.6687 level, that being the 61.8% Fibonacci retracement of the down leg from 0.6797 to 0.6510. The climbing red Tenkan-sen line, which has distanced itself above its blue Kijun-sen line, is suggesting strengthening price action. Moreover, the minor upward inclines in the 50- and 100-period simple moving averages (SMAs) promote forthcoming additional advances too, and could boost this view should they cross above the 200-period SMA overhead. Furthermore, momentum in [..]

Technical Analysis – NZDUSD optimism prolonged; price action remains stalled

Posted on October 21, 2020 at 8:19 am GMT

NZDUSD is currently trading in the vicinity of the 100-day simple moving average (SMA) and the red Tenkan-sen line, continuing to edge sideways, capped by the flattening 50-day SMA and Ichimoku cloud. The tone of the 50- and 200-day SMAs promotes a directionless market, while the 100-day SMA holds a positive course. Dried up directional momentum is also reflected in the horizontal Ichimoku lines as well as the short-term oscillators. The MACD is located barely below its zero mark and [..]

Daily Market Comment – Stimulus uncertainty hits sentiment; RBA flags more easing

Posted on October 20, 2020 at 9:05 am GMT

US stimulus talks make progress but short time window spooks investors Aussie slips as RBA gives clearest indication yet it will ease policy soon Pound steady despite endless brinkmanship in Brexit talks Stimulus deal getting closer but may come too late Talks in the United States on a new round of fiscal stimulus remains very much the focus for investors as time is fast running out for a pre-election spending bonanza. House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin [..]

Daily Market Comment – Cautious optimism as US stimulus and Brexit talks hang in the balance

Posted on October 19, 2020 at 9:00 am GMT

Pelosi sets new deadline for reaching fiscal stimulus deal; US stock futures edge up Mild risk-on tone after China GDP miss as stronger September lends support Pound shrugs off on-off Brexit talks as UK leaves door open to a deal Euro struggles after Lagarde adds to growing dovish voices Hopes for pre-election stimulus deal not dead yet Fresh talks in Washington between the White House and the Democrats on a new virus relief bill kept alive hopes that a deal [..]

Week Ahead – Flash PMIs could underscore worsening virus trend; US election polls in focus

Posted on October 16, 2020 at 12:36 pm GMT

The virus reality has come back to bite markets just as investors were attempting once again to shrug off the gloom and doom. The daily frequency of tighter Covid restrictions being announced across Europe and dimming expectations of a pre-election stimulus deal by US lawmakers has put a dampener on risk sentiment over the past few days. Uncertainty about the US election and Brexit are adding to the market anxiety. With none of these outstanding issues expected to be resolved [..]

Daily Market Comment – Wall Street storms back, but currencies don’t play along

Posted on October 16, 2020 at 8:30 am GMT

US stocks trim losses, close almost unchanged as Trump hints at higher stimulus offer Yet, the currency arena doesn’t get the memo – dollar holds onto gains Most likely just a reflection of euro and sterling weakness Coming up: US retail sales today, New Zealand election over the weekend Equity and currency markets dance to different tunes Global markets are torn between conflicting narratives, with fears around new virus restrictions in Europe that could cripple the recovery being mostly neutralized [..]

What does New Zealand’s election mean for the kiwi? – Forex News Preview

Posted on October 15, 2020 at 1:37 pm GMT

New Zealand’s election takes place on Saturday and opinion polls suggest a decisive victory for incumbent Prime Minister Jacinda Ardern, who has become tremendously popular after successfully handling the healthcare crisis. The real question for the kiwi dollar is whether Ardern will win an outright governing majority, in which case the currency could get a small boost, or whether she will need a coalition with a smaller party. In the bigger picture, the primary drivers for the kiwi will be [..]

Technical Analysis – NZDUSD finds strong resistance at 0.6670; neutral bias

Posted on October 14, 2020 at 6:24 am GMT

NZDUSD has been in a horizontal trajectory over the last three weeks within the 0.6520 and 0.6670 barriers. Currently, the pair is holding above the 20- and 40-day simple moving averages (SMAs) after they posted a bearish crossover in the short-term. The RSI indicator is sloping slightly up near the neutral threshold of 50, however, the stochastic oscillator is looking overbought as it is ready to create a negative cross within the %K and %D lines. If the price manages [..]


Technical Analysis – NZDUSD displays directionless market; advances curbed by 100-MA   

Posted on October 9, 2020 at 12:23 pm GMT

NZDUSD appears to be stuck in a horizontal market, backed by the Ichimoku cloud, and is currently capped by the downward sloping 100-period simple moving average (SMA) at 0.6620. The pair is struggling to overtake this level that also happens to be the 38.2% Fibonacci retracement of the down leg from 0.6797 to 0.6510. The conflicting Ichimoku lines reflect an easing in negative momentum, while the gradual rising of the 50-period SMA suggests weakness in downward drive. The short-term oscillators [..]

Daily Market Comment – Stimulus talks back on but White House chaos caps stock gains

Posted on October 9, 2020 at 9:02 am GMT

Trump flip-flops on stimulus bill, reviving hopes of pre-election fiscal boost But stocks up only moderately amid caution about talks and global recovery worries Dollar drifts lower, loonie soars ahead of jobs data as oil turns bullish Trump U-turns on relief package but uncertainty about deal lingers Talks between the White House and the Democrats on a new virus relief bill have restarted after President Trump reversed his decision from just two days earlier to end them. Trump had instead [..]

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