The New Zealand dollar tumbles courtesy of a negative market mood and a bid US dollar. US June’s CB Consumer Confidence dipped to a 10-year low on US citizens’ concerns about high inflation and slower growth. The US Dollar Index is back above the 104,000 thresholds, courtesy of quarter and month-end flows. The NZD/USD ticks … Read more
NZD/USD struggled to gain any meaningful traction and oscillated in a familiar trading range. The cautious mood acted as a headwind for the risk-sensitive kiwi amid a modest USD uptick. Reduced bets for more aggressive Fed rate hikes might cap the USD and lend some support. The NZD/USD pair extended its sideways price moves for … Read more
The NZD/USD erased early week losses and finished the week flat. On Friday, recession fears abated, but growing risks remain skewed to the downside. st. Louis Fed’s Bullard commented that the US economy is fine and that recession worries are exaggerated. The New Zealand dollar recorded solid gains vs. the greenback, snapping two days of … Read more
The New Zealand dollar is losing ground on a softer economic outlook warn analysts at CIBC. They forecast the NZD/USD pair at 0.62 during the third quarter and at 0.61 by year-end. Key Quotes: “The NZD is facing depreciation pressure sourced in a number of factors, including that from broad negative global risk sentiment. We … Read more
to Reuters, New Zealand’s Fonterra said on Thursday that it is likely to pay a higher price to farmers for milk supply for the next fiscal year, courtesy of a jump in dairy demand and the appreciation in the US dollar. “The world’s biggest dairy exporter expects to pay between NZ$8.75 and NZ$10.25 ($5.49 and … Read more
Further downside could prompt NZD/USD to breach the 0.6200 level in the next weeks, comment FX Strategists at UOB Group Lee Sue Ann and Quek Ser Leang. Key Quotes 24-hour view: “While yesterday we expected NZD to weaken, we were of the view that ‘any weakness is unlikely to break the major support at 0.6265’. … Read more
NZD/USD bears home in on the 0.6250s demand area. Bulls are lurking below spot with their sights on the 0.6340s. As per the prior analysis from earlier on Wednesday, NZD/USD Price Analysis: Bulls lurking near 0.6250, rallies to 0.6340 eyed, the bird has fallen out of the sky but could be destined for a soft … Read more
A combination of supporting factors pushed NZD/USD higher for the second straight day. The risk-on impulse generald the safe-haven USD and benefitted the risk-sensitive kiwi. Hawkish Fed expectations, rising US bond yields to limit the USD losses and cap the major. The NZD/USD pair attracted some buyers for the second straight day on Tuesday and … Read more
NZD/USD extends recovery from 200-HMA towards nearby resistance line. Firmer RSI, sustained trading above weekly support line and 100-HMA favor buyers. Bulls keep their eyes on 0.6430 before eyeing the monthly top. NZD/USD refreshes intraday high around 0.6345 while stretching the week-start rebound from the 200-HMA during early Tuesday morning in Europe. In doing so, … Read more
NZD/USD stays defensive after three-week downtrend, pares recent losses during a quiet session. New Zealand Business PSI rose past 52.2 prior to 55.2 in May. Hawkish Fed, recession fears favor US dollar, news from China probe Kiwi bears. Light calendar highlights the risk catalysts for fresh impulse. NZD/USD grinds higher around 0.6320 while consolidating the … Read more