Results for 'NZDUSD'
14 articles with this tag name
Updated May 17, 2013 3:15:00 PM
The Kiwi has continued to decline over the past few days, largely following in the footsteps of the Aussie, and further downside could still be on the horizon. That said, this move may be attributed to not only USD strength, but also NZD weakness as the market has slowly been coming around to the notion we highlighted on Monday, “the implementation of such (macro-prudential) measures essentially takes the possibility of future rake hikes off the
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Updated May 12, 2013 8:11:44 PM
The kiwi is testing a support zone against the USD dollar, after broad USD strength and speculation of further intervention from the RBNZ to lower the commodity currency sent the pair into a free-fall last week. USD strength came on the back of better than expected US economic data and repositioning out of US treasuries, which resulted in massive moves across the FX board. NZD was also hit by the announcement that the RBNZ has
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Updated Apr 22, 2013 11:04:11 PM
The Reserve Bank of New Zealand has a monetary policy meeting tomorrow, at which the bank is expected to keep the official cash rate at 2.5%. While we think there is little chance the RBNZ will move on interest rates, the tone of the bank will be watched closely. The stubbornly high kiwi dollar has been a thorn in the side of the NZ economy for a while and the RBNZ has been very vocal
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Updated Apr 16, 2013 9:00:00 AM
Market movements so far today have been much calmer than they have been in recent days. Gold seems to have made a temporary base at $1,322- the low from yesterday – and has staged a fairly impressive recovery so far today. It managed to break above this morning’s prior high at $1,380 and is now testing $1,1400. A period of consolidation is to be expected, after all the market can’t continue to drop $150 per
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Updated Apr 9, 2013 6:45:00 PM
Sure enough, the NZDUSD bullish technical backdrop highlighted on March 21st proved to be correct as Kiwi broke above the highlighted 0.8350 level with ease. More importantly, it failed to trade back below the aforementioned level after it closed above it on a daily basis. This, in conjunction with the fact that daily RSI broke above the key 60/65 zone, indicated the uptrend was back in play. Presently, NZDUSD is finding some resistance into 0.8525/35,
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Updated Mar 14, 2013 8:00:00 AM
The morning session was littered with central bank announcements including from the SNB, Norges Bank and last night’s RBNZ meeting. The doves have the upper hand at all three banks – the SNB kept rates on hold at 0% and also pledged to buy “unlimited amounts” of euro to maintain the EUR/CHF peg at 1.20. The Norges bank said that the key interest rate could be kept lower for longer and it may cut rates
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Updated Feb 21, 2013 11:12:03 PM
More upbeat comments from the RBA preceded a small rally in the Australian dollar. Whilst RBA Governor Stevens didn’t reveal anything the market didn’t already know, he cemented the notion that the RBA is in a wait-and-see mode. Stevens stated that China’s growth slowdown has ended, remained somewhat upbeat on the rest of the global economy and, most importantly, reiterated that the bank wants to see what effect prior stimulus is going to have on
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Updated Feb 20, 2013 6:35:00 PM
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Updated Feb 19, 2013 10:56:20 PM
Not long after ECB President Draghi urged the G20 to exercise strong verbal discipline, RBNZ Governor Wheeler has used the threat of intervention to talk down the kiwi. In a speech today, the governor stated the NZ dollar is overvalued and movements in the commodity currency are not one way, while pointing out the bank can intervene to reduce the currency’s value if circumstances are right. The RBNZ chief added for good measure the official
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Updated Feb 11, 2013 10:41:23 PM
The yen has been dealt another blow, this time by the suggestion that the US will not publicly object to aggressive policy easing in Japan. The market had fears that the G20 summit would provide the perfect background for the US to voice any concerns it may have, which included possible objection of a push towards aggressive loosening in Japan which is weakening its currency. Some of these fears have eased since Brainard’s speech. In
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