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.



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

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
Oil - US Crude
Wall Street
More View more
Real Time News
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.99%, while traders in Germany 30 are at opposite extremes with 65.01%. See the summary chart below and full details and charts on DailyFX:
  • Article and webinar recording can be found here -
  • Indices Update: As of 21:00, these are your best and worst performers based on the London trading schedule: Wall Street: -0.01% US 500: -0.01% FTSE 100: -0.42% Germany 30: -0.43% France 40: -0.49% View the performance of all markets via
  • A “PIP” – which stands for Point in Percentage - is the unit of measure used by forex traders to define the smallest change in value between two currencies. Learn how to understand pips in forex here:
  • MACD who? The Moving Average Convergence Divergence (MACD) is a technical indicator which simply measures the relationship of exponential moving averages (EMA). Find out how you can incorporate MACD into your trading strategy here:
  • $NDX extends intraday losses as fears over rising yields continue to haunt high-flying equities
  • Commodities Update: As of 19:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.16% Gold: -1.47% Silver: -2.30% View the performance of all markets via
  • This smells like a head-and-shoulders pattern from the Nasdaq 100 ($NDX) but we don't see the same picture from the S&P 500, Dow or Russell 2000
  • Lot's of things down today, but know what isn't? Yup, longer-term #Treasury yields An average of the 10Y and 30Y having best day in about a week = portfolio rebalancing play still front and center Fed's Evans expressed little concern about yields
  • - Non-labor input costs rose moderately, particularly steel and lumber prices - Rising costs attributed to strong demand and supply chain issues - Several districts anticipate modest price increases over the next several months
NZD/USD Risks Near-Term Correction on RBNZ Verbal Intervention

NZD/USD Risks Near-Term Correction on RBNZ Verbal Intervention

David Song, Strategist
NZD/USD Risks Near-Term Correction on RBNZ Verbal Intervention

Fundamental Forecast for New Zealand Dollar: Bearish

NZD/USD may exhibit a more bearish behavior in the week ahead should the Reserve Bank of New Zealand (RBNZ) show a greater willingness to preserve the record-low cash rate throughout 2017.

Sign Up and Join the DailyFX Team LIVE to Cover the RBNZ Rate Decision

The downtick in the 2Q Consumer Price Index (CPI) accompanied by the unexpected contraction in New Zealand Employment may encourage the RBNZ to adopt a more cautious tone at the August 10 meeting especially as ‘GDP growth in the March quarter was lower than expected.’ As a result, the series of below-forecast figures may keep the central bank on the sidelines beyond Governor Graeme Wheeler’s departure in September as Deputy Governor Grant Spencer takes the helm for the next six-months.

At the same time, the RBNZ may follow a similar approach to its Australian counterpart, and like the Reserve Bank of Australia (RBA), Governor Wheeler and Co. may toughen the verbal intervention on the local currency as officials argue ‘a lower New Zealand dollar would help rebalance the growth outlook towards the tradables sector.’ As a result, dovish remarks from the RBNZ may generate a bearish reaction in NZD/USD, with the exchange rate at risk for a larger correction as it pulls back from the 2017-high (0.7558).

NZD/USD Daily Chart

NZD/USD Risks Near-Term Correction on RBNZ Verbal Intervention

Download the DailyFX 3Q Forecasts

The broader outlook for NZD/USD has become more constructive as the pair clears the range from 2016, but the lack of momentum to close above the 0.7350 (23.6% expansion) hurdle raises the risk for a near-term correction as the pair fails to preserve the narrow range carried over from the previous week. In turn, the Relative Strength Index (RSI) may continue to pullback from overbought territory, with a close below the 0.7400 (38.2% expansion) handle opening up the former-resistance zone around 0.7330 (38.2% retracement) to 0.7350 (23.6% expansion), which may offer support.

NZD/USD Retail Sentiment

NZD/USD Risks Near-Term Correction on RBNZ Verbal Intervention

Check out the new gauge developed by DailyFX based on trader positioning

Retail trader data shows 23.5% of traders are net-long NZD/USD with the ratio of traders short to long at 3.25 to 1. In fact, traders have remained net-short since May 24 when NZD/USD traded near 0.68667; price has moved 7.9% higher since then. The number of traders net-long is 8.6% lower than yesterday and 7.3% lower from last week, while the number of traders net-short is 2.2% lower than yesterday and 9.4% higher from last week.

Sign up for David's e-mail distribution list

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