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
Mixed
Oil - US Crude
Mixed
Wall Street
Mixed
Low
High
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
Gold
Mixed
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • Indices Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Wall Street: 0.02% US 500: 0.02% Germany 30: -0.03% FTSE 100: -0.08% France 40: -0.09% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/yGpQEAhfhB
  • US Dollar Price Action Setups: EUR/USD, GBP/USD https://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/daily_fundamentals/2021/04/19/US-Dollar-USD-Price-Action-Setups-EUR-USD-EURUSD-GBP-USD-GBPUSD.html $USD $EURUSD $GBPUSD https://t.co/Jyr7pfHhdH
  • RT @CGasparino: BREAKING -- @JoeBiden Admin is in the early stages of developing a regulatory approach to the booming crypto biz, sources t…
  • The US Dollar is in correction within the yearly uptrend with the decline now eyeing initial support objectives just lower. Get your $USD technical analysis from @MBForex here:https://t.co/QLdiJa8z7v https://t.co/95rBic2Ke8
  • Commodities Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: -0.03% Gold: -0.29% Silver: -0.57% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/nj9OGkvt7a
  • The Dollar ($DXY) has cleared both its 50-day SMA and the midpoint of the 2021 range. What has greater pull: its roll as wayward safe haven (vs inverted $SPX) or the recent fade in returns (US 10yr). The 20-day correlation to both approximately ~0.8, strong https://t.co/1dteHRggua
  • US Dollar Index (DXY) trend from last March picking up steam again. February and January lows up next on radar, could take a few weeks. Get your market update from @PaulRobinsonFX here:https://t.co/KCsZINK3KI https://t.co/3EN4Xrxnjn
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.55%, while traders in Germany 30 are at opposite extremes with 80.61%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/9j9ojxURdw
  • RT @ChadPergram: Biden now mtg w/bipartisan/bicameral mbrs about infrastructure. Says they're discussing "how to pay for it." Adds they "ho…
  • $WTI #Crude #Oil Price Outlook: Breakout Eyes Resistance- Bulls at Risk - https://t.co/RuNq3bxxaW https://t.co/784dxJq0m7
New Zealand Dollar Soars as Adrian Orr Gets RBNZ Top Job

New Zealand Dollar Soars as Adrian Orr Gets RBNZ Top Job

David Cottle, Analyst

Talking Points:

  • The New Zealand Dollar was boosted Monday
  • Adrian Orr will be the next Reserve Bank of New Zealand Governor, the Prime Minister announced
  • Questions remain over possible tweaks to the RBNZ’s mandate

Just getting started in the NZD/USD trading world? Our beginners’ guide is here to help

The New Zealand Dollar gained Monday following the announcement of Adian Orr as Governor of the Reserve Bank of New Zealand.

Orr currently runs the New Zealand Superannuation Fund and his term at the helm of the RBNZ will begin on March 27, 2018. Jacinda Adern the country’s Prime Minister said that she was appointing Orr with the unanimous approval of the central bank’s leadership.

Grant Spencer has been acting Governor since Graeme Wheeler stepped down at the end of September. Adrian Orr is chiefly known beyond New Zealand for former Prime Minister Bill English’s criticism of his compensation earlier this year.

Still, the markets seem to have cheered his appointment, probably not least because it ends at least that uncertainty.

New Zealand Dollar Soars as Adrian Orr Gets RBNZ Top Job

Questions remain though. The government wants to add some sort of employment mandate to the RBNZ’s inflation-busting remit, a prospect to which the RBNZ has shown some resistance. It is possible that the introduction of such a remit would mean that New Zealand interest rates remain lower than they otherwise would have done, and Mr. Orr’s thoughts on this matter are sure to be eagerly sought.

More broadly the New Zealand Dollar has suffered both from the uncertainties generated by this September’s’s general election. It has also been hit by a broadly strengthening US Dollar and the suspicion that the RBNZ favours a weaker currency.

Still, it seems to have found some support around current levels, at which the downtrend from this year’s highs seems to have broken.

New Zealand Dollar Soars as Adrian Orr Gets RBNZ Top Job

Much will depend however on what the US Federal Reserve does this week. A rate increase is held to ba all-but certain so the prognosis as to how many more there may be will be crucial.

--- Written by David Cottle, DailyFX Research

Contact and follow David on Twitter: @DavidCottleFX

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

DISCLOSURES