|Min-Max giorno||0,651 - 0,654|
|Intervallo di 52 settimane||0,5479 - 0,6790|
The direction of the NZD/USD on Friday is likely to be determined by trader reaction to the minor 50% level at .6483.
The direction of the NZD/USD the rest of the session on Friday is likely to be determined by trader reaction to the pivot at .6483.
Progress towards a COVID-19 vaccine and positive EU and U.S stats provided support early on. U.S Nonfarm payrolls and jobless claims are in focus later.
There’s plenty to consider as we enter the 3rd quarter. Brexit, a labor market recovery, possible trade wars, and Trump are all there to influence…
In New Zealand, business confidence continues to improve as the economy returns to normal but still points to a recession according to an ANZ Survey.
It’s a busy day ahead, with economic data, talk of stimulus, geopolitics, and COVID-19 updates to provide the majors with direction.
The RBNZ said it expects the decline in annual GDP this year to be the largest in at least 160 years.
There were no economic reports out of Australia and New Zealand on Friday, which left control of the trade in the hands of risk sentiment.
If today is a “risk-on” session then look for the Forex pair to rise as this would encourage investors to shed safe-haven U.S. Dollar positions.
Since June 11, the direction of the NZD/USD has been controlled by the minor pivot at .6483.
Markets could be in for another choppy day ahead. Expect any talk of reintroducing any lockdown measures to weigh heavily on risk appetite.
With economic data limited to business sentiment figures from Germany, expect geopolitics and COVID-19 to also be a factor on the day.
The U.S says the trade agreement with China is over. PMIs this morning were positive, providing support before the news hit the wires. A choppy day ahead…
The main trend is up ; however, momentum is trending lower. The main trend will change to down on a trade through .6381.
A light economic calendar will give the markets an opportunity to reflect ahead of FED Chair Powell’s 2nd day of testimony
The Commitments of Traders reports highlight speculators positions and changes made during the week to June 9 in FX, bonds and stocks. Appetite for risk remained high that week, not least following the better-than-expected US job report on June 5. The S&P; 500 rallied 4.2%, the dollar index lost 1.4% while bond yields jumped
It was the Fed’s GDP and unemployment forecasts that rattled Aussie and Kiwi investors enough to encourage aggressive profit-taking.
It’s a relatively quiet day on the calendar. Fears of a 2nd wave pandemic may overshadow any positive stats on the day.
As risk aversion lingers, the Pound could be in for another hit, with U.S consumer confidence figures for June also in focus…
After a quiet 1st half to the week, expect things to get a little busier… Geopolitics, the FED, Brexit, and Economic Data will give the markets plenty to consider.