In his latest report, the New Zealand’s Treasury Department predicted the economy will narrowly avoid a recession next yeargiven the increase in rates and the slowdown in demand. Key Comments (via Bloomberg) “The Treasury projects that inflation will slow from the current 6.9% to 5.2% in June 2023. He doesn’t see it going back to […]
Tag: NZDUSD
NZD/USD tests the 21 DMA below 0.6450
NZD/USD has pulled back below 0.6400 after testing its 21 DMA at 0.6430, but is still trading higher on the day. The weakness of the US dollar after the manufacturing data from the Philadelphia Federal Reserve and the strength of the kiwi after the good revisions of the PPI and OBEGAL are helping. The NZD/USD […]
NZD/USD pulls back below 0.6350 as overall sentiment falls
NZD/USD is under pressure and returns below 0.6350 as global equities move lower as traders digest the Fed’s hawkish rhetoric. Amid the lack of major economic events for the rest of the week, the broader risk appetite will drive price action. The slump in global equity markets as traders digest aggressive comments from Fed Chairman […]
NZD/USD makes new highs, holds below 0.6300
NZD/USD sideways on Monday, maintains Friday’s gains. US stocks fall, stay off recent lows. US data: Unexpected contraction in the Empire Manufacturing index. The NZD/USD rose to 0.6295 during the American session reaching the highest level since Thursday. The pair is rising as dollar strength pauses and amid lower US yields. The Dow is down […]
NZD/USD trims losses, heads to lowest close since June 2020
The US dollar falls when Wall Street turns positive. The tensions in the financial markets are still on the table. NZD/USD bounces modestly, bearish bias persists. The NZD/USD bottomed out during the US session at 0.6222, the lowest level since June 2020, and then recovered modestly to 0.6266, paring losses. The dollar moved higher across […]
NZD/USD recovers towards 0.6350 despite strong US CPI figures.
NZD/USD rallied to the 0.6350 area on Wednesday as risk appetite stabilizes, despite higher-than-expected US CPI data. But the prospect of a sustained rally does not look good as NZD/USD is still trading near its lowest levels since 2020. Ongoing concerns about global growth and central bank tightening could still send the pair lower. A […]
NZD/USD extends recovery from one-year lows and rises near 0.6350 ahead of US CPI.
NZD/USD gains positive traction on Wednesday and breaks a four-day losing streak to a new one-year low. A pullback in US bond yields and risk appetite weigh on the safe-haven USD. Expectations of an aggressive Fed rate hike should support USD losses and cap the pair’s rally ahead of the US CPI report. The pair […]
NZD/USD hangs on to modest recovery gains below 0.6350, lacks continuation
NZD/USD bounces back modestly from its lowest level since June 2020, hit earlier on Tuesday. Softer US bond yields and a positive risk tone weigh on the safe-haven USD and offer support for the pair. Expectations of an aggressive Fed rate hike and recession fears should limit the USD’s decline and cap the pair’s rise. […]
NZD/USD at new lows since June 2020
NZD/USD was hit on Monday along with a further decline in global risk assets and commodities. The pair fell to new lows since June 2020 at 0.6350. The focus is on US and New Zealand CPI inflation expectations data later in the week, which could weigh on central bank expectations. The NZD/USD was hit on […]
NZD/USD looks vulnerable to a break below 0.6400 as Wall Street falls
Currency markets did not react much to the latest US jobs data, but could react to a continued slide in US equities. NZD/USD looks vulnerable to a possible drop below 0.6400 and a test of support in the 0.6380 area. The main focus next week will be on the US CPI data. While currency markets […]
