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.

Free Trading Guides
Oil - US Crude
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Real Time News
  • RT @Rob_Hager: Probability of 3 Fed Rate Cuts In 2020 - ⁦@SoberLook⁩ @Bloomberg https://t.co/UgNip6M5gH
  • The US Dollar may rise against the Malaysian #Ringgit after Prime Minister Mahathir Mohamad resigned. Bank of #Malaysia may cut rates on #coronavirus fears with fiscal stimulus uncertain #USD $USDMYR - https://www.dailyfx.com/forex/fundamental/article/special_report/2020/02/25/US-Dollar-USDMYR-Outlook-Malaysia-Eyes-Coronavirus-Political-Risks.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/MMfqAAhnAP
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.67%, while traders in USD/CAD are at opposite extremes with 70.08%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/44UzibakR0
  • Forex Update: As of 05:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.12% 🇬🇧GBP: 0.10% 🇪🇺EUR: 0.06% 🇳🇿NZD: -0.01% 🇨🇭CHF: -0.01% 🇯🇵JPY: -0.11% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/zqLhZsBtvr
  • Indices Update: As of 05:00, these are your best and worst performers based on the London trading schedule: US 500: 0.87% Wall Street: 0.81% Germany 30: 0.73% France 40: 0.72% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/apOv16dKUW
  • Asia Pacific Equities Update: Nikkei 225 (-3.17%), Shanghai Composite (-2.00%), KOSPI (+1.05%), ASX 200 (-1.60%) [delayed]
  • Hey, traders 👋 do you want live AMAS with our analysts, market updates and tools to improve your trading strategy? Join us now on Instagram! 👉 https://t.co/pHGzVMqsC4 https://t.co/bnCFdQRxHu
  • I find my interest align with the Keto Diet when pork rinds and cracklins are involved
  • GBP/CAD has broken below the September uptrend while EUR/CAD may be ending its consecutive 12 day decline with EUR/CHF approaching key resistance as NZD/CAD aims at November lows. Get your currencies update from @ZabelinDimitri here: https://t.co/GpRB7IKhTA https://t.co/ThUcTZF4nz
  • My trading video for today: 'S&P 500 Suffers Its Worst Weekly Open Since 1981 as Coronavirus Fears Evolve' https://www.dailyfx.com/forex/video/daily_news_report/2020/02/25/SP-500-Suffers-Its-Worst-Weekly-Open-Since-1981-as-Coronavirus-Fears-Evolve.html?ref-author=Kicklighter&QPID=917719&CHID=9 https://t.co/jWs8Db1rP7
New Zealand Dollar Outlook Remains Bearish As Growth Deteriorate

New Zealand Dollar Outlook Remains Bearish As Growth Deteriorate

2011-03-18 22:27:00
David Song, Currency Strategist
New_Zealand_Dollar_Outlook_Remains_Bearish_As_Growth_Deteriorate_body_Picture_1.png, New Zealand Dollar Outlook Remains Bearish As Growth Deteriorate

New Zealand Dollar Outlook Remains Bearish As Growth Deteriorate

Fundamental Forecast for New Zealand Dollar: Bearish

The New Zealand dollar tumbled to a fresh yearly low of 0.7108 following the flight to safety, and the high-yielding currency may continue to lose ground over the following week as the risk for a double-dip recession intensifies. Economic activity in New Zealand may have weakened further during the last three-months of 2010 following the unexpected contraction in the third-quarter, and a dismal growth report would exacerbate the recent selloff in the exchange rate as the central bank maintains a cautious outlook for the region.

Reserve Bank of New Zealand Governor Alan Bollard warned economic activity may have contracted in the first-quarter as well after lowering the benchmark interest rate to 2.50% earlier this month, and the central bank may see scope to ease monetary policy further this year as the slew of natural disasters in the Asia/Pacific region dampens the outlook for global trade. As uncertainties surrounding the world economy continue to bear down on market sentiment, the flight to safety may gather pace over the following week, and the bearish sentiment underlying the NZD/USD could produce a test of 0.7000 as the pair searches for support. Nevertheless, investors continue to see scope for higher borrowing costs in New Zealand as Credit Suisse overnight index swaps reflects speculation for a 25bp rate hike over the next 12-months, but the increasing risk for a double-dip recession is likely to bear down on interest rate expectations as the central bank curbs its outlook for growth and inflation.

However, as the relative strength index bounces back from oversold territory, the correction in the kiwi-dollar may continue to develop going into the following week, and the exchange rate may work its way back towards the 200-Day moving average at 0.7411 before we get anther selloff in the New Zealand dollar. As a result, currency traders may come across an opportunity to fade the sharp rebound on Friday ahead of the 4Q GDP report, and the exchange rate should continue to trend lower over the near-term as investors scale back their appetite for risk. -DS

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


News & Analysis at your fingertips.