NZD/USD loses ground due to risk aversion ahead of the Fed Chair Powell’s speech scheduled on Friday. The recent FOMC Minutes suggested that most Fed officials agreed on a rate cut in September. The New Zealand Dollar declines as Retail Sales is expected to fall by 1.0% QoQ for Q2. NZD/USD breaks its four-day winning […]
NZD/USD resumes gains and sees more than 1% gains, rising to 0.6050. Rising green bars on the MACD and RSI around 55 indicate increasing bullish momentum. Pair trades above immediate support of 0.6030, and faces resistance at 0.6070-0.6100. In Friday’s session, the NZD/USD pair resumed its upward trajectory, extending gains to 1% to reach 0.6050 and […]
The New Zealand Dollar weakens in Thursday’s Asian session. RBNZ’s dovish stance continues to undermine the Kiwi. Investors await the US data for fresh impetus, including Retail Sales, Initial Jobless Claims and Philly Fed Manufacturing Index. The New Zealand Dollar (NZD) remains on the defensive on Thursday. The dovish stance of the Reserve Bank of […]
Reserve Bank of New Zealand’s (RBNZ) Governor Adrian Orr is set to hold a press conference following the announcement of the monetary policy decision on Wednesday at 02:00 GMT. Orr will respond to questions from the press. At its August policy meeting, the RBNZ decided to cut the cash rate by 25 basis points (bps) […]
The New Zealand Dollar holds positive ground in Tuesday’s early Asian session. Reduced bets for a RBNZ rate cut and signs of stronger demand from China supported the Kiwi. Rising Middle East geopolitical risks might limit the pair’s downside. The US Producer Price Index (PPI) will be in the spotlight on Tuesday before the RBNZ […]
Despite the predominantly bearish trend, NZD/USD exhibits signs of a mild rebound. Key resistance is noted at 0.5980, with a substantial support level observed around 0.5760. Daily RSI fluctuates under the 50-mark, indicating lasting bearish sentiment, but a recent recovery above 40 shows traces of bullish momentum. The NZD/USD pair, while majorly sticking to its […]
NZD/USD slightly rebounds, hovering near the 0.5900 mark, but remains under a clear bearish influence. The pair lost more than 4% in July, underscoring a strong bearish outlook. The 0.5850 area is the last barrier against the sellers. In Friday’s session, the NZD/USD took a slight break from its continual downward trajectory, mildly rebounding to […]
NZD/USD trades with a negative bias for the sixth straight day amid worries about China. The risk-off impulse further contributes to driving flows away from the risk-sensitive Kiwi. Dovish Fed expectations keep the USD bulls on the defensive, albeit do little to lend support. Traders now look to the US Q2 GDP for a fresh […]
NZD/USD trades on a softer note near 0.5975 in Tuesday’s early Asian session, down 0.10% on the day. The rising bets on RBNZ rate cuts and surprise rate cuts by the Chinese central bank weigh on the Kiwi. Fed officials said the time for a US rate cut is drawing closer. The NZD/USD pair trades […]
NZD/USD trudges below the 0.6070 level, marking its worst week since January. The pair closed at 0.6010, indicating a weekly loss of approximately 1.80%. NZD/USD remains under the key SMA of 20, 100, and 200 days, pointing to a sustained bearish bias. In Friday’s session, the NZD/USD sustained its downward momentum, dropping by 0.65% to […]
NZD/USD gains momentum resuming back above the 20-day SMA. Bulls attempt to maintain control after Thursday’s recovery transitioned the technical outlook towards a slightly bullish sentiment. On Friday’s session, the NZD/USD demonstrated renewed strength after recovering from a period of decline, resulting in a rise to around 0.6120. Daily technical indicators present a cautiously optimistic […]
After the July policy meeting conducted on Wednesday, the Reserve Bank of New Zealand (RBNZ) board members decided to keep the Official Cash Rate (OCR) steady at 5.50%. The decision was widely in line with the market expectations. Summary of the RBNZ Monetary Policy Statement (MPS) Committee agreed that monetary policy will need to remain […]
