NZD/USD rallied towards 0.6275 but erased 50 pip gains as sentiment softened. Fears of a US recession hang over investors as the housing market continues to cool. NZD/USD Price Analysis: The pair is facing solid resistance despite breaking out of a falling wedge to the upside. On Wednesday, the NZD/USD hit a fresh 3-week high […]
Tag: NZDUSD
NZD/USD climbs back above 0.6200
The selling trend around the USD helps NZD/USD to regain positive traction on Tuesday. Fading expectations of a 100 basis point Fed rate hike in July continue to put pressure on the dollar. Recession fears and high US bond yields should cap USD losses and limit pair gains. The pair NZD/USD attracts fresh buying near […]
NZD/USD hovers around 0.6150 despite high New Zealand inflation
NZ Inflation Beat RBNZ & Economists Expectations, Will Bank Hike 75bps? Sentiment changed mixed following Apple’s report that hiring will slow, reigniting concerns about the US recession among investors. ANZ Bank expects the RBNZ overnight rate (OCR) to end at 4% instead of 3.5%. The NZD/USD It barely posted any gains on Monday, thanks to […]
NZD/USD faces rejection near 0.6200, trims intraday gains
NZD/USD rose for the second day in a row amid dollar profit-taking. Stronger-than-expected quarterly inflation data from New Zealand also offered some support. The rally in US bond yields helped limit dollar losses and capped the pair’s gains. The pair NZD/USD it was supported by last week’s bounce from the 0.6060 zone, its lowest level […]
NZD/USD nears previous day’s highs, lacks continuation ahead of US CPI.
NZD/USD reverses post RBNZ decline to 0.6100 zone amid subdued demand around USD. Signs of stability in the markets weigh on the USD and offer support to the perceived riskier NZD. Expectations for an aggressive rate hike from the Fed benefit the USD and cap the pair ahead of the US CPI report. The pair […]
Forex Today: Dollar Stabilizes Ahead of Key Inflation Data
This is what you need to know to trade today Wednesday July 13: Following a downward correction in the first half on Tuesday, the dollar regained its strength amid sour market sentiment during the American session, with the DXY dollar index closing the day flat. The DXY index remains relatively calm above 108.00 early on […]
RBNZ Minutes: Committee agreed to maintain focus on vigorously raising OCR
In minutes published alongside the monetary policy statement, the Reserve Bank of New Zealand (RBNZ) has noted that the “committee agreed to maintain its approach to vigorously raising the OCR“. Additional comments Members noted that the New Zealand dollar exchange rate has depreciated The Committee noted that the weakening of the New Zealand dollar continues […]
RBNZ raises OCR by 50 basis points to 2.5%
At its monetary policy meeting on July 13, the Reserve Bank of New Zealand (RBNZ) announced a 50 basis point increase in the Official Cash Rate (OCR), raising it from 2% to 2.5%, as expected widely. The RBNZ has stated: “The Committee agreed that it remains appropriate to continue to tighten monetary conditions at the […]
NZD/USD Price Analysis: Sticks to modest recovery gains above 0.6100, lacks follow-through
NZD/USD has staged a modest recovery from levels below 0.6100, ie above a two-year low. Sustained dollar buying and a risk-off mood capped gains in the risk-sensitive kiwi. In addition, investors were hesitant ahead of Wednesday’s RBNZ and US CPI. The pair NZD/USD showed resistance below 0.6100 and gained some positive traction on Tuesday. The […]
NZD/USD Hits New Two-Year Lows Below 0.6100
The dollar rises across the board on risk aversion. DXY hits highest level since October 2002. NZD/USD fails to recapture 0.6200 and breaks support at 0.6130. The NZD/USD is falling on Monday and hit a fresh two-year low at 0.6096, before paring losses to 0.6130. The pair is under pressure amid risk aversion that continues […]