US Dollar/New Zealand Dollar (USD/NZD) Exchange Rate
USD/NZD Pivot Points
USD/NZD Latest Updates
Covid-19 cases in the US have surpassed those in China. President Trump has vowed to force the economy open by April 12th,
Liquidity started to become an issue across the global financial system, and the US Dollar rallied despite the US Federal Reserve’s panic-cut of 50 basis points.
As Covid-19 continues to spread globally, panic selling has impacted commodity currencies like the New Zealand Dollar.
While the Reserve Bank of New Zealand surprised financial markets with an upbeat outlook on the economy, keeping its interest rate unchanged
Inflation expectations increased slightly but remained below the Reserve Bank of New Zealand’s annualized target.
New Zealand consumer confidence decrease in January, but the Asian region received a necessary positive fundamental boost out of China
Last week Statistics New Zealand released the consumer price index figures.
Fourth-quarter consumer prices in New Zealand rose more than anticipated, with the annualized CPI clocking in at 1.9%.
According to one New Zealand business manufacturing gauge, the sector unexpectedly contracted in December.
Bullish momentum is expanding after this currency pair grazed the top range of its short-term support zone.
Get the Forex Forecast using fundamentals, sentiment, and technical positions analyses for major pairs for the week of December 30, 2019 here.
The New Zealand dollar initially fell during Tuesday, but then turned around to form a bit of a hammer.
After a strong advance in the NZD/USD, which took it into a strong resistance zone, a short-term correction is expected.
The New Zealand dollar has been very bullish over the last month or so, slamming into a longer-term downtrend line.
As global markets await US President Trump to approve what many consider an insignificant phase-one trade deal, the NZD/USD spiked into its resistance zone.
While the long-term fundamental outlook for the NZD/USD remains bullish, the current advance may be in for a pause before it can resume.
New Zealand economic data released this morning showed an increase in consumer confidence for November while building permits decreased.
NZDUSD: Bullish flag pattern holding
NZDUSD: Bullish flag pattern about to break down?
While the long-term outlook for the NZD/USD remains bullish, a short-term corrective phase is expected to follow the breakdown in this currency pair below its resistance zone