Technical Analysis – NZDUSD bullish at 8-month top of 0.6787  

Posted on September 2, 2020 at 6:50 am GMT

NZDUSD is continuing last week’s rebound with strong momentum, reaching eight-month highs at 0.6787 today and at the same time confirming the bullish tendency again. The short-term bias looks positive as the MACD keeps gaining ground above its red signal line, while the RSI seems to be making its way up above its 70 mark, though more progress is needed from the latter. However, the stochastics is looking overbought, as it turns lower above the 80 level. The 0.6940 resistance level identified [..]

Daily Market Comment – Sinking dollar lifts all FX boats

Posted on September 1, 2020 at 8:16 am GMT

Dollar breaks down across multiple charts, without a clear trigger Other major currencies climb alongside gold, Nasdaq hits new records Today: European inflation, US manufacturing, and Fed’s Brainard Dollar: The pain train rolls on There is no shortage of volatility in the FX arena. The world’s reserve currency continues to break down, in fear that the Fed’s new regime shift may succeed in driving inflation higher and diminish the greenback’s future purchasing power. The dollar index sank to a fresh [..]


Technical Analysis – NZDUSD’s ascent quickens; bullish signals enhance bias

Posted on August 28, 2020 at 11:45 am GMT

NZDUSD is fuelling the ascent from the 0.6487 level with its thrust above the high of 0.6690. The positive picture was aided by the strong bullish signals present in the rising Ichimoku lines and the short-term oscillators. Additionally, the approaching bullish crossover of the 100-period simple moving average (SMA) by the 50-period one may further boost the positive picture. The short-term oscillators reflect strengthening positive momentum. The MACD, deep in the positive section, is accelerating above its red signal line, [..]


Week Ahead – US jobs report eyed for recovery progress; Calm and steady at the RBA

Posted on August 28, 2020 at 11:45 am GMT

As a possible fiscal cliff looms in the United States, the August nonfarm payrolls report will be a crucial test for the strength of the economic recovery, making it the highlight of a relatively busier week as summer draws to an end. Canadian employment figures are also on the agenda, while the latest PMIs out of China will be important for market sentiment. But it is the Australian dollar that could see the most crossfire out of the major currencies [..]


Daily Market Comment – Dollar treads water as all eyes on Powell

Posted on August 27, 2020 at 8:37 am GMT

Markets steady as Powell’s highly anticipated Jackson Hole speech awaited Dollar braces for major dovish tilt by the Fed Aussie and kiwi lead the gainers; loonie seeks further oil boost How dovish can the Fed get? Fed chief Jerome Powell will take centre stage when he updates investors on the Fed’s policy framework review at the annual Jackson Hole conference of central bankers, which has gone virtual this year due to the ongoing pandemic. Powell will deliver his hotly anticipated [..]


Technical Analysis – NZDUSD retraces under 50-day SMA; positive signals intact

Posted on August 26, 2020 at 8:25 am GMT

NZDUSD has faded below the 50-day simple moving average (SMA) from a fresh seven-month high of 0.6714, somewhat stalling the bullish picture. However, the strengthening 50- and 100-day SMAs coupled with a forthcoming bullish crossover of the 200-day SMA by the 100-day one, may rapidly guide the pair higher again. The short-term oscillators are transmitting mixed signals of momentum at the moment. The MACD and its red signal line are currently flirting with the neutral mark. On the other hand, [..]


Daily Market Comment – Dollar eases, stocks hit record as US and China reaffirm trade truce

Posted on August 25, 2020 at 8:43 am GMT

US and China hold ‘constructive’ talks, trade deal seen intact Wall Street hits another record; global equities follow suit But dollar only mildly softer as Treasury yields pop higher Phase one trade deal safe for now Washington and Beijing have reaffirmed their commitment to the ‘phase one’ trade deal via a call late on Monday between US Trade Representative Robert Lighthizer, Treasury Secretary Steven Mnuchin and Chinese Vice Premier Liu He. The talks, which were originally scheduled for August 15, [..]


Daily Market Comment – Virus ‘breakthrough’ lifts stocks; dollar awaits Powell speech

Posted on August 24, 2020 at 9:00 am GMT

Markets start week on positive note amid progress on Covid-19 treatment and vaccine Dollar holds firm as investors gear up for Powell’s big Jackson Hole speech Euro and pound left reeling after data shock and Brexit blow Virus optimism leads equities higher Markets have started the week on a cheery note as news that President Trump has authorized the emergency use of plasma treatment for Covid-19 patents and is considering fast tracking a UK vaccine before the election boosted sentiment. [..]


Week Ahead – Markets to stay choppy ahead of virtual Jackson Hole symposium

Posted on August 21, 2020 at 12:49 pm GMT

The Federal Reserve will be front and centre next week as traders will be hoping policymakers will provide clearer signals on future monetary stimulus than they did in the FOMC minutes when they hold a virtual gathering of their annual economic symposium. Data out of the United States will constitute the predominant data releases, and coupling that with the Fed event, there can be little doubt the US dollar will be the primary driver of the FX market in an [..]


Technical Analysis – NZDUSD rises after the slip to 7-week low

Posted on August 21, 2020 at 9:47 am GMT

NZDUSD reached oversold levels according to the stochastic oscillator and reversed higher after it hit a new seven-week low at 0.6487. The RSI is also returning higher in the negative territory. While the aforementioned technical indicators continue to pick up speed, mirroring the market’s upside retracement in the very short-term the 20- and 40-period simple moving averages (SMAs) are trying to tick higher increasing their distance above the price action. In case the pair changes its short-term direction to the upside, the bulls will probably challenge [..]

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