|Day's range||0.618 - 0.62|
|52-week range||0.5479 - 0.6790|
Traders are extremely optimistic; bears have to abandon their negative view and buyers are enjoying still relatively discounted stocks. Is it exaggerated?
As market jitters over the U.S and China resurface, the ECB and the EU Commission will be in focus later this morning…
The early tone of the NZD/USD on Wednesday is likely to be determined by trader reaction to Tuesday’s high at .6229.
The markets continue to move northwards. Who needs geopolitical risk, when you have hope? The big question must be whether it can continue…
The Aussie and Kiwi should be underpinned throughout the session on Tuesday as long as investors remain focused on the global economic recovery.
It’s “risk-on” this morning as the markets continue to brush aside U.S – China tensions. Economic data later in the day will garner some attention, however.
Today is Memorial Day in US and Spring Bank Holiday in UK which means the markets should be relatively quiet and we shouldn’t expect any rapid movements.
Economic data puts the EUR in focus, while geopolitics and COVID-19 news and numbers will also influence on the day.
There’s not much anyone can do with the economic data until the virus is contained and the stimulus money starts to circulate through the economy.
Retail sales figures will give the Pound and the Loonie direction, with the ECB minutes also in focus. Trump’s Twitter account could be the key driver, however.
Private sector PMIs and U.S jobless claims put the EUR, the Pound, and the Greenback in the spotlight. Numbers out of Japan were not inspiring…
NAB’s cashless retail sales index, which measures debit card, credit card and other cashless spending on NAB platforms, fell 5.3% in April.
It’s a busy day ahead. The FOMC minutes late in the day will draw plenty of attention as market optimism of an economic rebound lingers.
It’s a busy day ahead on the economic calendar. There is also geopolitics to consider with over the course of the day.
The Kiwi is expected to remain under pressure after the RBNZ expanded its asset purchase program and discussed negative interest rates.
Oil prices are on the rise and COVID-19 numbers are on the decline as governments ease lockdown measures. it’s “risk-on” early in the day.
Data on Friday showed China’s April industrial output beating expectations but consumption was stuck in the doldrums.
Economic data from the Asian session was skewed to the negative ahead of some key stats out of the Eurozone and the U.S. Expect geopolitics to also play a hand…
It’s been a busy week thus far, with Powell adding to the risk aversion mid-week. COVID-19 jitters are likely to persist as the tension between China and the U.S lingers
Another late sell-off in US shares, this one perhaps related to the sobering assessment by the leading medical adviser for the Trump Administration about the risks of opening too early, failed to deter investors in the Asia Pacific region. Although Japanese shares slipped, most other markets rose.
The economic calendar puts the Pound front and center, though there is the rising concern of a 2nd wave of the COVID-19 pandemic to consider…
Based on the early price action and the current price at .6084, 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 .6074 and the short-term 50% level at .6043.
As China and South Korea report a rise in new cases, will other governments need to tread more carefully? Risk aversion hits the markets early…
The Reserve Bank of New Zealand (RBNZ) is expected to leave its benchmark rate at 0.25%. Out of Australia, the Employment Change is expected to show 550K jobs were lost last month. The Unemployment Rate is forecast to rise from 5.2% to 8.3%.
Base on the recent price action, we’re looking for the upside bias to continue as long as the NZD/USD holds above the main Fibonacci level at .6074.