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
Bearish
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
Wall Street
Mixed
Gold
Bullish
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • Consolidation or bull flag? A bull flag is a continuation pattern that occurs as a brief pause in the trend following a strong price move higher. Learn how to better spot these formations here: https://t.co/yOEvLjKnct https://t.co/nD75SqMrxd
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 88.66%, while traders in France 40 are at opposite extremes with 79.92%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/0X721EyXki
  • Gold Prices at 3-Month High Amid USD Weakness after Big NFP Miss https://www.dailyfx.com/forex/market_alert/2021/05/10/Gold-Prices-at-3-Month-High-amid-USD-Weakness-after-Big-NFP-Miss.html https://t.co/ZlsBKlFOw6
  • Forex Update: As of 04:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.23% 🇦🇺AUD: 0.02% 🇨🇦CAD: -0.02% 🇨🇭CHF: -0.08% 🇳🇿NZD: -0.09% 🇯🇵JPY: -0.26% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/pzMXnTquKf
  • Indices Update: As of 04:00, these are your best and worst performers based on the London trading schedule: France 40: 0.36% FTSE 100: 0.33% Germany 30: 0.28% Wall Street: 0.27% US 500: 0.20% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/d3nVIzPniI
  • Did you know a Doji candlestick signals market indecision and the potential for a change in direction. What are the top five types of Doji candlesticks? Find out https://t.co/c51s3IBcEu https://t.co/ApsjkNfGMO
  • Commodities Update: As of 02:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.63% Silver: 0.61% Gold: 0.03% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/nO754swCBo
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.30% 🇦🇺AUD: 0.07% 🇨🇦CAD: 0.00% 🇪🇺EUR: -0.05% 🇨🇭CHF: -0.09% 🇯🇵JPY: -0.24% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/rdSUCcdssH
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 88.56%, while traders in France 40 are at opposite extremes with 80.47%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/85hvnrXx2Y
  • 🇦🇺 Retail Sales MoM Final (MAR) Actual: 1.3% Previous: -0.8% https://www.dailyfx.com/economic-calendar#2021-05-10
NZDUSD Bounce on Jobs Data May be Curtailed by Trade War Risks

NZDUSD Bounce on Jobs Data May be Curtailed by Trade War Risks

Dimitri Zabelin, Analyst

NZDUSD, TRADE WAR – TALKING POINTS

  • NZDUSD spikes after local jobs data beat forecasts
  • US-China trade war tensions may curtail Kiwi’s rise
  • Risk aversion is permeating global financial markets

See our free guide to learn how to use economic news in your trading strategy!

Amid the market-wide pandemonium, the New Zealand Dollar spiked after local jobs data beat forecasts. The unemployment rate shrunk to 3.9 percent, beating the 4.3 percent forecast. Both the year-on-year and quarter-on-quarter employment change also unexpectedly beat forecasts despite New Zealand’s economy showing growing signs of weakness and need for accommodative monetary policy.

NZDUSD Spikes After Jobs Data Came in Better-Than-Expected

Chart Showing NZDUSD

However, it is unclear whether this will significantly alter the Reserve Bank of New Zealand’s (RBNZ) outlook for policy. Last week, the central bank announced that it is looking into using “unconventional” policy measures as a way to boost inflation and jobs growth. The better-than-expected data appears to have offered an ethereal moment of hope, but price action suggests investors are quickly remembering the fundamental environment.

NZDUSD Coming Back to Earth

Chart Showing NZDUSD

US-China trade relations have hit a new low and has caused market-wide risk aversion and lead to the S&P 500 shaving off over 5 percent in less than a week. The Treasury Department has designed China as a currency manipulator after USDCNH crossed the 7.00 psychological threshold. The PBOC responded to the price move saying it was the result of expectations of further tariffs and protectionism.

Get live updates on US-China trade relations by following @DailyFXteam Live on Twitter!

As an export-driven economy with a strong reliance on Chinese growth, New Zealand – along with Australia – are some of the most vulnerable economies to a downturn in US-China trade relations. Escalation between Beijing and Washington continues to spook financial markets and is leaving commodity-linked currencies like NZD in the proverbial dustbin as traders redirect capital to anti-risk assets like Treasuries and the US Dollar.

NZD TRADING RESOURCES

--- Written by Dimitri Zabelin, Jr Currency Analyst for DailyFX.com

To contact Dimitri, use the comments section below or @ZabelinDimitrion Twitter

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

DISCLOSURES