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Mixed results overnight in French and German PMI reads has seen no real shift in the Euro (EUR), New Zealand Dollar (NZD) cross with prices hovering around 0.5300 (1.8870) since the weekly open. Fib levels on the chart suggest we could see moves towards last week high retesting the 0.5350 (1.8700) zone.
Current Level: 0.5299
Support: 0.5285
Resistance: 0.5340
Last week’s range: 0.5280- 0.5344
Market Overview: Currency markets were all broadly weaker through the later stages of the week once risk markets were put on notice. The Federal Reserve held their benchmark rate unchanged at 2.00%. September 27 is the next Fed meeting which markets are expecting a hike to 2.25% with a strong possibility later in the year for another…
A solid pushback by the Euro this week has seen prices in the Euro (EUR), Australian Dollar (AUD) cross push back to 0.6790 (1.4730) late Thursday reversing all of last week’s losses. Fitch has come out saying a eurozone recession is imminent as a result of the gas crisis, a full cut of the Russian…
Monday prices in the New Zealand Dollar (NZD), Australian Dollar (AUD) extended off the weekly open at 0.9140 (1.0940) to reach 0.9115 (1.0970) early Tuesday. RBA monetary minutes from the meeting 18 June should confirm rhetoric of the RBA to hike 25 points at their August meeting due to ongoing inflationary pressures. The catalyst for…
Contact us for a quote Below are the weekly economic releases for this week (NZT) Monday 16/03 8am, NZD, Official Cash Rate Previous 1.00% Actual 0.25% 8am, NZD, RBNZ Rate Statement 10am, USD, FOMC Statement 10am, USD, Federal Funds Rate Previous <1.25% Actual <0.25% 1017am, USD, President Trump Speaks 11am, NZD, RBNZ Press Conference 1130am,…
The New Zealand Dollar (NZD) has rebounded lower off the 0.9160 (1.0920) high Monday to reach 0.9105 (1.0980) into Tuesday, after 3 weeks of gains the kiwi bull run could be over for the moment. We expect the AUD to continue its recovery this week with the Aussie better supported with optimism over tariff policy…
The AUD has tumbled against the GBP for the whole of 2024, falling from highs of 0.5350 in January, to trade around today’s 0.5125. Interest rate differentials drive this price action and the Bank of England appear committed to their tight monetary policy. The UK is in recession but has green-shoots of growth, allowing some…