News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Bearish
Oil - US Crude
Mixed
Wall Street
Mixed
Gold
Bullish
GBP/USD
Bearish
USD/JPY
Bullish
More View more
NZD Outperforms, EUR/GBP Back to Key Support, AUD Awaits CPI - US Market Open

NZD Outperforms, EUR/GBP Back to Key Support, AUD Awaits CPI - US Market Open

Justin McQueen, Analyst

NZD/USD, GBP/USD, EUR/USD Analysis & News

  • NZD Outperforms, AUD/NZD Heads Lower
  • Euro Watching for Italian Politics
  • Traders Continue to Buy the GBP Dip

QUICK TAKE: NZD Outperforms, EUR/GBP Back to Key Support, AUD Awaits CPI

Equities: A turnaround Tuesday for markets this morning with EU bourses posting modest gains. Encouraging vaccine news from Regeneron helped underpin gains with the company stating that their antibody drug cocktail prevented 100% of symptomatic infections. Going forward, while earnings will remain in focus with Microsoft reporting after the closing bell (implied move = 3.5%).

Euro Stoxx 50 Sector Breakdown

Outperformers: Energy (2.7%), Consumer Discretionary (1.9%), Basic Materials (1.8%)Laggards: Utilities (0.1%), IT (0.16%), Healthcare (0.2%)

US Futures: S&P 500 (0.1%), DJIA (0.2%), Nasdaq 100 (-0.1%)

Intra-day FX Performance

NZD Outperforms, EUR/GBP Back to Key Support, AUD Awaits CPI - US Market Open

Source: Refinitiv

NZD: The Kiwi is on the front foot yet again as with related flows continue to underpin. AUD/NZD has now broken below 1.0700 with eyes now for a test of 1.0650. EUR: Italian politics is in focus with PM Conte announcing his resignation. However, the next PM, may indeed be Conte. Find out more here. GBP: Markets continue to hold a buy the dip view with GBP back above 1.3700, while EUR/GBP tests key support at 0.8860. The UK jobs report was ignored by GBP with focus remaining on the vaccine race.

Chart in Focus: AUD/NZD Continues to Track Bond Spreads

NZD Outperforms, EUR/GBP Back to Key Support, AUD Awaits CPI - US Market Open

Source: Refinitiv

Commodities: Across the precious metals complex, with little in the way of news flow gold has traded in a narrow range. Brent and WTI crude futures are slightly firmer as oil prices track risk sentiment higher.

Looking ahead: Little on the docket with the US Consumer Confidence data ahead. However, for AUD traders, the CPI data (00:30GMT) will be closely watched.

DailyFX Economic Calendar

NZD Outperforms, EUR/GBP Back to Key Support, AUD Awaits CPI - US Market Open

REPORTS OF NOTE

  1. S&P 500, Nasdaq 100 Pushing Onward; Watch FANMAG Breakout by Paul Robinson, Strategist
  2. Italian PM Conte Resigns, What Happens Next? - Euro Outlook by Justin McQueen, Market Analyst
  3. Bitcoin (BTC) Continues to Struggle While Ethereum (ETH) Comes Off a Fresh All-Time Highby Nick Cawley, Strategist

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES