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The trade developments in the US, with the UK and China, ignites the US Dollar. The EU has not yet come to an arrangement with the US, in the form of a trade agreement, which has unsettled the EURO. The cross rate hit highs of 0.5300, with more downside likely for the single currency. This may be a break in the two currencies, tandem trading range.
Current Level: 0.5250
Support: 0.5200
Resistance: 0.5350
Last week’s range: 0.5220- 0.5300
Contact us for a free online quote Currencies have predominantly traded sideways this week over a lack of any meaningful economic releases. The Kiwi has outperformed its rivals gaining 1.1% over the greenback in an otherwise slow week. Risk sentiment turned slightly negative into Wednesday as US corporate earnings published a tad softer and concerns over…
Price has stalled just above 0.9000 in the New Zealand (NZD), Australian Dollar (AUD) pair over the past few days, camped out between 0.9000 and 0.9100, the pair awaits further drivers. This may well come in the form of NZ quarterly GDP Thursday; with predictions it could print red and drop the NZ economy into…
Market Overview Key Points • Worldwide coronavirus cases surpass 436.785 million with over 5.972 million official deaths. • New Zealand has 14,633 new active community cases of coronavirus with 344 people in hospital, 5 in intensive care. • PM Ardern announced NZ isolation changes yesterday, with no more self-isolation required for New Zealanders and tourists who…
Get a free quote online Australia With a lack of data published last week in Australia the Aussie Dollar followed offshore risk themes for most of the week based on Brexit and trade talk headlines. Perched around the 0.7050 area versus the US Dollar since early Friday sessions the currency looked to push higher Monday. If the…
The New Zealand Dollar (NZD) extended last week’s push higher against the Australian Dollar (AUD) to 0.9295 (1.0760) clocking a fresh 7 week high in the pair. The breakout from the bear channel through 0.9210 (1.0860) made for a much larger correction move by the kiwi. Resistance is seen at 0.9320 (1.0730) the May high…
Day 10- Level 2 NZ lockdown. Worldwide coronavirus cases surpasses 5,500,000 Quiet start to the week with national holidays in both the US (Memorial Day) and the UK (May Day Bank holiday) with currencies trading in narrow ranges. With little in the way of data releases over the week attention will focus on the gradual…