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
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
Oil - US Crude
Mixed
Wall Street
Mixed
Gold
Bullish
GBP/USD
Bullish
USD/JPY
Mixed
More View more
Real Time News
  • Forex Update: As of 11:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.53% 🇬🇧GBP: 0.43% 🇦🇺AUD: 0.27% 🇨🇭CHF: 0.18% 🇯🇵JPY: 0.10% 🇨🇦CAD: 0.03% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/mwWxyHchSd
  • Euro’s forecast this quarter? Get your free forecast here: https://t.co/kpBYVz31Bd #DailyFXGuides https://t.co/Im099ElT61
  • Indices Update: As of 11:00, these are your best and worst performers based on the London trading schedule: Germany 30: 0.49% US 500: 0.24% Wall Street: 0.16% FTSE 100: 0.14% France 40: -0.07% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/rsPhYcZW22
  • #HSI Hang Seng Index finished slightly below 30,000 mark as Southbound net flow via the stock connections fell three days in a row to HK$ 16,263 million, from a record high of 26,592 million on Jan 19th. Total southbound flows contributed to 31% HKEX's daily turnover on Thur. https://t.co/YkxXUHEFRa
  • Greed is a natural human emotion that affects individuals to varying degrees. Unfortunately, when viewed in the context of trading, greed has proven to be a hindrance more often than it has assisted traders. Learn more about controlling greed here: https://t.co/5GXReUsKRj https://t.co/edSSfv0SfT
  • Join @PaulRobinsonFX 's webinar at 5:30 AM EST/10:30 AM GMT where you can learn how to become a better trader in the current market climate. Register here: https://t.co/WeWGKtdlyz https://t.co/MPcM0lepdX
  • Heads Up:🇬🇧 BoE Credit Conditions Survey due at 09:30 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-01-21
  • 🇿🇦 Retail Sales YoY (NOV) Actual: -4% Expected: -2.5% Previous: -2.3% https://www.dailyfx.com/economic-calendar#2021-01-21
  • 🇵🇱 Employment Growth YoY (DEC) Actual: -1% Expected: -1.2% Previous: -1.2% https://www.dailyfx.com/economic-calendar#2021-01-21
  • Trading bias allows traders to make informative decisions when dealing in the market. This relates to both novice and experienced traders alike. Start learning how you may be able to make more informed decisions here: https://t.co/rz7fqhRoMG https://t.co/qA7wZiJfiX
NZD/USD Buoyed by RBNZ Comments. Trade Wars and Consumer Confidence Next.

NZD/USD Buoyed by RBNZ Comments. Trade Wars and Consumer Confidence Next.

Megha Torpunuri,

TALKING POINTS:

  • NZD/USD appreciatedas RBNZ notes it sees signs of core inflation picking up pace
  • NZD remains bearish as RBNZ is unlikely to change 1.75% OCR in the near future
  • ANZ Consumer Confidence data, US-China trade war, and emerging markets next

Trade all the major global economic data live and interactive at the DailyFX Webinars. We’d love to have you along.

The New Zealand Dollar rallied against its US counterpart as the Reserve Bank of New Zealand maintained its overnight cash rate at 1.75% ahead of Thursday’s Asia Pacific trading session. The central bank stated that while it expects to keep this level through 2019 and 2020 and that the next move could be either a hike or cut, it sees “welcome early signs” of upticks in core inflation. The rate outlook also assumes growth will pick up in the coming year. The Kiwi’s ascent continued earlier volatility sustained due to the Federal Reserve increasing rates earlier today.

NZD/USD 5-Minute Chart

NZD/USD Buoyed by RBNZ Comments. Trade Wars and Consumer Confidence Next.

However, follow-through on a rally may be lacking as the currency pair has remained in a downtrend channel since May 2018. The New Zealand Dollar’s downside momentum has been extended by mostly lackluster local economic data and an increasingly hawkish FOMC since then. By contrast, the RBNZ left the door open to a rate cut in their announcement today, leading 10-year government bond yields to decrease. Furthermore, NZD/USD’s recent breakout above the descending June 2018 line, it currently eyes February 2016 support levels around the 0.66 figure.

NZD/USD Daily Chart

NZD/USD Buoyed by RBNZ Comments. Trade Wars and Consumer Confidence Next.

See our free guide to learn what are the long-term forces driving New Zealand Dollar prices!

Looking ahead, the Kiwi Dollar may reverse its gains as it faces the release of the September’s ANZ Consumer Confidence Index figures and monthly building permits data for last month. Furthermore, the sentiment-linked unit will closely eye market risk trends, possibly echoing recent strengths in Asia Pacific stocks. Trade war developments will also play a key role, as the Trump administration’s 25% tariffs on $200b of Chinese goods starting next year could weaken emerging markets in the long run. Losses in these equities may eventually be mirrored by the New Zealand Dollar.

NZD/USD Trading Resources

--- Written by Megha Torpunuri, DailyFX Research Team

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

DISCLOSURES