Technical Analysis – NZDUSD bulls get rejected near trendline

Posted on September 8, 2021 at 7:51 am GMT

NZDUSD was forced to move back after marking two consecutive weekly wins, thanks to resistance from the descending trendline, which has been joining the highs from the 2021 peak of 0.7463. The pullback from the three month high of 0.7169 sent the price below the 0.7100 level and the 200-day simple moving average (SMA), marginally though, turning the focus to the 38.2% Fibonacci retracement of the 0.7463 – 0. 6800 downleg at 0.7055. With the RSI and the fast Stochastics losing steam, and the MACD having reached [..]

Technical Analysis – NZDUSD enters restricted zone; short-term bias bullish

Posted on September 2, 2021 at 7:50 am GMT

NZDUSD has been one of the best performers among major FX pairs this week, extending its bullish run to an almost one-month high of 0.7075 after finding support near the 50-day simple moving average (SMA). The market action is currently taking place around the crucial resistance of 0.7072, while within breathing distance, the 200-day SMA at 0.7120 and a tentative descending trendline at 0.7145 is another key wall, which the bulls need to knock down in order to speed up towards the 0.7200 number. Beyond the [..]


US Open Note – Dollar set for positive monthly close despite weakness; stocks falter

Posted on August 31, 2021 at 1:36 pm GMT

Dollar falls to fresh lows, but outlook still promising The US dollar was down across the board on Tuesday, retreating below its post-Jackson Hole low earlier in the day to trade at 92.36 against a basket of six major currencies as investors remained in the dark about when the Fed will officially kick off its bond tapering phase. The outlook, however, is still promising for the greenback, which is set to close the month in the positive territory since the [..]


US Open Note – Dollar flat as Powell continues to feed Wall Street bulls

Posted on August 30, 2021 at 1:58 pm GMT

Dollar remains muted after Friday’s pullback The delta wave uncertainty forced Federal Reserve Chairman Jerome Powell to play it safe during Friday’s Jackson Hole symposium, setting no timeline and expressing no rush for winding down stimulus despite flagging that bond tapering will start this year. His dovish remarks sent the dollar index lower but within the 92.00 territory as the euro and the pound found the chance to steal some ground on the news. ECB’s Villeroy signals PEPP reduction, but [..]

Daily Market Comment – Fed hawks rattle Wall Street ahead of Powell

Posted on August 27, 2021 at 9:27 am GMT

Three Fed officials call for start of tapering; Wall Street unnerved but futures bounce back Dollar also reverses earlier moves, edges lower ahead of Powell’s Jackson Hole speech Afghanistan and Delta worries also put investors on edge, gold climbs But China policy support soothes some nerves, stocks mixed Fed hawks make their case; will Powell follow suit? As all eyes turn to Jay Powell’s keynote address at the virtual Jackson Hole symposium later today, three Fed officials made clear where [..]


US Open Note – Dollar steady as Fed speakers play down Jackson Hole fireworks

Posted on August 26, 2021 at 1:25 pm GMT

Waiting for Jackson Hole symposium FX markets hardly found any inspiration to move during Thursday’s European session as investors were eagerly waiting for the Jackson Hole symposium on Friday. The economic conference, which invites central bankers, finance ministers and important investors from around the world once in a year, will start today in a virtual form, carrying the theme “Macroeconomic Policy in an Uneven Economy”. The full agenda scheduled will be released at 0000 GMT today, but the biggest highlight [..]

Daily Market Comment – Markets turn cautious in wait for Powell

Posted on August 26, 2021 at 9:22 am GMT

Stocks slip as Delta strain and China crackdown fears resurface Dollar supported by higher yields but overall, lacks direction Markets gearing up for Jackson Hole but can Powell offer much clarity? Stocks turn red as optimism fades slightly Rising virus cases in Asia as well as lingering concerns about China’s punitive crackdown on its tech industry came back to haunt markets on Thursday, pulling regional stocks lower. European bourses also slipped at the open and US stock futures struggled too, [..]


US Open Note – Markets calm down ahead of Jackson Hole

Posted on August 25, 2021 at 12:53 pm GMT

FOMC meeting and Jackson Hole attract attention There have been several confusing messages leading up to the summit (27 August). The Fed’s vice chair, Clarida, hinted at an early taper when he stated that rates could rise as early as 2022. In the US, the number of covid cases and deaths is on the rise. Especially after Kaplan’s comments on Friday, investors are increasingly focused on this factor in the run-up to the FOMC. This Thursday, the Federal Reserve’s annual Jackson Hole Symposium gets underway, and it [..]

Daily Market Comment – Dollar finds footing as Jackson Hole awaited, stocks fly again

Posted on August 25, 2021 at 9:14 am GMT

Markets turn to Jackson Hole for direction amid uneasy optimism Dollar edges up after three-day slide, while Wall Street climbs to fresh records China cash injection, House infrastructure vote lift sentiment, but Delta still a worry Calm sets in before possible Fed storm After a volatile week, markets were in much steadier waters on Wednesday, with the US dollar halting its losing streak and equities holding onto their gains. Optimism that the global economic recovery from the pandemic will only [..]


Technical Analysis – NZDUSD still rises after the rebound off 0.6800

Posted on August 25, 2021 at 7:21 am GMT

NZDUSD is still moving higher after the rebound off the 0.6800 support level, reaching the 20- and 40-day simple moving averages (SMAs). Technically, the RSI indicator is flattening near the neutral threshold of 50, while the MACD is rising in the bearish territory, approaching the trigger line. If the price jumps above the SMAs, the next immediate resistance could come from the 0.7100 psychological level, which holds near the 200-day SMA. Even higher, the market could meet the medium-term descending [..]

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