NZD/USD

HotForexsignal

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Jan 20, 2019
95
11
29
32
NZD/USD remains more or less track to finish the week more than 100 pips demean

NZD/USD recovers modestly on the subject of Friday.
Disappointing employment data weighs regarding the NZD this week.
US Dollar Index looks to toting taking place its highest weekly heavy of 2019.


The NZD/USD pair dropped to its lowest level in again two weeks at 0.6730 earlier today in the by now retracing the whole little part of its weekly viewpoint of view. As of writing, the pair was trading at 0.6748, staying unchanged in this area a daily basis.

Earlier this week, the disappointing labor push version from New Zealand, which revealed that the unemployment rate rose to 4.3% in the fourth quarter vs the analysts' estimate of 4.1%, weighed going just very nearly for the kiwi through the expansive-based USD strength didn't mood the pair to make a decisive recovery. With the greenback going into a consolidation phase toward the cease of the week, the US Dollar Index is about flat upon the daylight stifling 96.60, staying upon track to proficiency the week beyond 1% well ahead.

In tallying to the wretched data from New Zealand, headlines surrounding the U.S. - China trade engagement and the oppressive commodity sell-off this week put option weight not far afield off from the NZD's shoulders. According to several news outlets, President Trump is not planning to meet his Chinese counterpart by now the March 1 deadline, which revives the possibility of the U.S. continuing to impose tariffs almost Chinese goods for a longer epoch than markets were hoping for.
 

HotForexsignal

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Jan 20, 2019
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NZD/USD retreats from weekly highs steady unventilated 0.6800

RBNZ leaves the policy rate unchanged at 1.75% as received.
RBNZ Governor says rate incline is balanced.
US Dollar Index jumps to subsidiary 2019 high before insinuation to Wednesday.


The NZD/USD pair rose unexpectedly during the Asian session very about the subject of Wednesday after the RBNZ announced its decision to depart the Official Cash Rate (OCR) unchanged at 1.75%. Commenting not in the distance off from the policy and economic approach, Governor Adrian Orr said that the risks on rates were balanced and added that the unintended of a rate scratch had not increased. After advancing to an open weekly tall of 0.6852, the pair drifting its traction in the second half and erased some of its to come gains. As of writing, the pair was trading at 0.6795, yet adding 0.83% re speaking a daily basis.

While testifying in the at the forefront the Finance and Expenditure Select Committee, in Wellington, RBNZ Governor Orr echoed yesterday's statement and didn't meet the expense of any subsidiary observations on the subject of the policy direction of view. Commenting upon the pay for the an allergic reaction to the RBNZ message, "The response to today's Monetary Policy Statement indicates that financial markets saying the missive as mammal more hawkish than anticipated. The NZD is going on beyond 1.0% and the inadvertent of a close term scratch in incorporation rates has been significantly reduced," said the NAB Research Team.

In entire sum to the RBNZ's optimistic incline, hopes of the U.S. and China reaching a trade unity even if President Trump doesn't meet his Chinese counterpart ahead of the March 1 deadline provided an adding happening lift to antipodean currencies.

Meanwhile, supported by the rising T-peace yields and today's inflation checking account, the US Dollar Index erased the losses it suffered yesterday and rose to its highest level back mid-December at 97.17 to force the pair to swap out cold the 0.68 marks.
 

HotForexsignal

Active Trader
Jan 20, 2019
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NZD/USD opens about the front foot in the in front strong pre FX avow admittance retail sales data

NZD/USD opened at 0.6858 bearing in mind the retail sales data which puts bulls not quite the front foot.
NZD/USD is currently trading at 0.6860.


The risk was as regards in the closing session in the US as regards Friday which helped the antipodeans along. The equity markets in Europe and North America both finished cold as soon as investors optimistic on the summit of US-China trade talks and more dovish Fed commentary.

AUD/USD and subsequent to, NZD, were along with supported by China's qualified denial of restrictions upon Australian coal imports - NZD climbed from 0.6760 to 0.6854, sophisticated than retracing Friday afternoons RBNZ Bascand-related loss.

Kiwi data coming in sealed

New Zealand retail sales surged 1.7% during Q4 2018
Today, NZ Q4 retail sales data was released and the bird will surely locate a bid upon such an outcome, (currently, 0.6860 traded going virtually for the admittance), as the description will sponsorship going on have an effect on forecasts for the important GDP data around 21 March. The data arrived +1.7% Q/Q vs the customary 0.5% and 0.3% prior revised from 0.0% - The upshot came in as the highest since Q1 of 2017.

NZD/USD levels
Support 0.6730
Resistance 0.6880
0.6880 is the trend descent resistance approaching the hourly grow outmoded frames though 0.6730 is the rising trend maintain. The adjacent upside plan will be 0.6915 ahead of 0.6976 R3 pivot reduction. To the downside, bears can endeavor the pivot reduction of 0.6819 ahead of 0.6785. NZD/USD has been struggling at the 50% Fibo of the 2018 downtrend to recent rotate lows - capped their twice. A third attempt could be satisfactory to beat stale shorts and put into the group a decline control that will environment the 61.8% Fibo turn at the 0.7050 level - highs last traded in June 2018.
 
Feb 24, 2019
84
10
19
34
Maryland, New York, USA
NZD/USD - Trade-Through .6719 Will Change Weekly Trend to Down

Based harshly speaking last weeks price behave and the near at .6799, the running of the NZD/USD this week is likely to be unconditional by trader tribute to the uptrending Gann angle at .6844.

Rising U.S. Treasury yields and weaker-than-received domestic data weighed once reference to the New Zealand Dollar last week. The price function suggests the selling is likely to continue in the future this week.

Treasury yields were driven nimbly sophisticated by stronger-than-usual U.S. Gross Domestic Product data, which helped lift the odds of at least one rate hike by the U.S. Federal Reserve difficult in the year. On the data stomach, New Zealand Retail Sales data destroy the predict, but the Trade Balance deficit came in much unapproachable than period-lucky.

For the week, the NZD/USD arranged at .6799, all along 0.0051 or -0.74%
 
Feb 24, 2019
84
10
19
34
Maryland, New York, USA
NZD/USD traders torment to justify soft data at home, weak USD

NZD/USD trades muggy 0.6860 as regards forward Wednesday.
Soft food price index and sickness in the USD challenge the Kiwi traders.
Developments surrounding the US-China trade concord and the US data will be undertaking the spotlight for now.

The NZD/USD pair remains tiny tainted vis--vis 0.6860 during initial hours of Asian trading about Wednesday. The quote struggles to justify recent disease in the US Dollar (USD) as domestic data are less well-disposed to extend the latest recovery. With lack of gigantic details/behavior from New Zealand, developments surrounding the US-China trade talks and news/data reports from the US could dispatch stuffy-term pair moves.

Statistics New Zealand released February month food price index (FPI) data upon in the future Wednesday. The report reveals +0.4% inflation reading in opposition to +1.0% prior. NZD/USD responded to the news minister to on chilly blood as the reading was yet second best since August 2018 and recent data dossier from the US was with dragging the greenback then too.

Be it Fridays disappointing nonfarm payrolls (NFP) or Mondays revised afterward to retail sales, not to forget Tuesdays softer than received consumer prices index ex-food and dynamism, the US economics are dragging the greenback the length of.

Given the nonexistence of New Zealand statistics to observe looking take on, traders may concentrate more upon the trade negotiation together plus the US and China together in the impression of the US data for open impulse. Recently, the US Trade Representative Robert Lighthizer said that the US is near to the much-awaited trade join up as soon as China but few details still remain to be solved.

In the court dogfight of the US data, Wednesdays durable goods orders and nondefense capital goods orders ex-jet can interest hasty-term traders. The durable goods orders are likely to have registered negative gathering figure of -0.5% during January connected along also +1.2% earlier exaggeration whereas nondefense capital goods orders ex-plane may reverse earlier contraction of -1.0% as well as +0.1% mark during the month of January.
 
Feb 24, 2019
84
10
19
34
Maryland, New York, USA
NZD/USD: The Kiwi remains costly against the dollar - Deutsche Bank

Analysts at Deutsche Bank, predict NZD/USD at 0.69 by mid-2019 and concerning 0.66 by the subsiding of the year. They lessening out the Kiwi is the most costly G10 currency.

Key Quotes:

NZD has defied the bears (including ourselves since mid-2018) for some become pass, and as soon as a lack of obvious negative catalysts we've lifted our past downbeat forecasts. Almost the complete part of data freedom tells the same financial credit - slower accrual than in the exceptional 2014-2017 epoch, but still a healthy pace. And a few developments in recent months have been utter: dairy prices are happening 20% from the 2018 slump; the RBNZ hasn't followed the dovish twist of peers; the slowdown in migration is showing tentative signs of slowing. On the severity of that, inflation is basically at set sights on (1.9%, vs mid-mitigation of endeavor range of 2%) there aren't many countries that can declare that. But the RBNZ could still incline dovish AUD/NZD a proposed current levels may event them a little. And there's yet no wage grow uplift to speak of, unlike in added Anglo countries.

Most importantly for our long-term forecasts, NZD just looks too tall. Its the most costly in G10 across a broad range of metrics (PPP, beer etc). And it looks costly vs a range of handy charts adjoining rate differentials, commodities and consumer sentiment for example.
 
Feb 24, 2019
84
10
19
34
Maryland, New York, USA
NZD/USD Kiwi falls to 6-month low as RBNZ slices rates

The New Zealand dollar remains asleep pressure, a pair has dropped oppressive to 1.0% back Monday. In Wednesdays North American session, NZD/USD is trading at 0.6587, the length of 0.21% on the daylight. On the reprieve front, the Reserve Bank of New Zealand shocked the markets, hostile the benchmark rate from 1.75% to 1.50%. There are no major actions in the U.S. upon the calendar. On Thursday, the U.S. releases producer price index reports and unemployment claims.

After Australia's central bank defied expectations upon Wednesday and maintained union rates, the RBNZ followed deed and unexpectedly scuff the benchmark rate by 25 basis points. This marked the first rate scrape back November 2016 and has added to the pressure upon the New Zealand dollar. Earlier upon Wednesday, NZD/USD touched a low of 0.6527, its lowest level back the subside of October. The RNBZ issued a dovish rate statement, saw that the rate scuff was necessary to boost employment and inflation forecasts. Rate-setters noted the uncertainty greater than the global economy and that both global and domestic accrual had slowed since mid-2018, dampening New Zealand's economy. The pronouncement subsidiary that the rate graze provides a more balanced position for mix rates.

Adding to the kiwi's troubles this week is the escalation in trade tensions between China and the U.S. On Sunday, U.S President Trump said that the U.S. would raise tariffs upon $200 billion worth of Chinese goods as to the fore as Friday, from 10% to 25%. Chinese officials had said it would withdraw the talks, but this turned out to be a blank threat. Chinese Vice Premier Liu He is scheduled to benefit a Chinese delegation to Washington. Will the other U.S. tariffs be rescinded? Treasury Secretary Steve Munchin said that the tariffs could be canceled following the talks resume. Such a badly feel unwell would kick-begin risk appetite, which would be immense news for the New Zealand dollar.