|Day's range||0.66 - 0.66|
|52-week range||0.6207 - 0.6941|
Boris Johnson has led the Conservatives to a landslide election victory, and the British pound has climbed over 2 percent, as the markets cheered the results. The U.S. and China have reached a trade deal in principle, and the Australian dollar and Chinese yuan responded with sharp gains.
The U.S announce an in-principal trade agreement with China and exit polls point to a Tory Party majority victory. It’s risk-on…
Yesterday evening we found out that we should not expect any interest rate rises in 2020, which of course was a rather negative information for the American Dollar.
It’s Election Day across the U.K, and millions of voters will determine what happens next with the Brexit saga, which has lasted three years. If Prime Minister Johnson can win an outright majority, the British pound could respond with significant gains.
It’s finally election day in the UK. Can Johnson win a majority and deliver on Brexit or is there more pain to come. There’s also the ECB.
The Australian Dollar is trading higher on Wednesday despite a bearish report from Westpac. This suggests traders are likely being influenced by optimism over U.S.-China trade relations. The New Zealand Dollar could be weakening on profit-taking after a big seller continued to successfully defend the major technical level at .6567.
The pound remains in a holding pattern, ahead of the election on Thursday. Polls are predicting a Conservative win, but that could change and cause some stronger movement from GBP/USD.
Based on the early price action and the current price at .6529, the direction of the NZD/USD the rest of the session is likely to be determined by trader reaction to the downtrending Gann angle at .6546.
Based on the early price action, the direction of the NZD/USD the rest of the session on Tuesday is likely to be determined by trader reaction to the main Fibonacci level at .6567.
Aussie and Kiwi traders will get the opportunity to react to U.S. data on consumer inflation and retail sales, however, these reports are not likely to change the Fed’s view on the economy.
With stats on the lighter side, we can expect geopolitics to be in focus. Trade and the UK General Election are likely to be the talking points…
Risk factors were primarily responsible for the movement in the safe-haven Japanese Yen, while the commodity-linked Australian and New Zealand Dollars were underpinned by sharply higher crude oil prices. The Aussie and Kiwi were also supported by a surprise improvement in Chinese manufacturing activity.
Based on the early price action and the current price at .6568, the direction of the NZD/USD on Friday is likely to be determined by trader reaction to the Fibonacci level at .6567.
The NZD/USD has been bullish since Monday’s strong rally was fueled by talk of fiscal stimulus to boost the New Zealand economy. The Kiwi was also boosted after an unexpected rebound in Chinese manufacturing raised hopes of a brighter outlook for the world economy.
The British pound has taken a breather on Friday, but is up almost 2 percent on the week. The pound has gained ground as the Conservatives continue to hold a lead in election polls. The Aussie and NZ dollar have also posted sharp gains against the U.S dollar this week.
Nonfarm payrolls from the U.S will influence later in the day. The UK election opinion polls and trade news also need a watchful eye.
The pound continues to gain ground, as the markets are pleased that Prime Minister Johnson remains ahead in the polls, with just one week to Election Day. In the Pacific region, the Aussie, NZ Dollar and Chinese yuan are trading quietly.
Based on the early price action and the current price at .6549, the direction of the NZD/USD the rest of the session on Thursday is likely to be determined by trader reaction to yesterday’s close at .6529.
The Australian Dollar is trading lower after retail sales came in flat and the Trade Balance came in weaker than forecast. The New Zealand Dollar is surging early Thursday on the back of positive comments from Reserve Bank of New Zealand (RBNZ) Governor Adrian Orr.
The British pound is hovering around the 1.33 line on Wednesday. We could some movement from GBP/USD in the North American session, with key services and employment reports out of the U.S. The Australian dollar is lower after GDP missed the forecast.