FXTM information and reviews
OctaFX information and reviews
XM information and reviews
FXCC information and reviews
Libertex information and reviews
FxPro information and reviews

NZD/USD struggles for direction, flat-lined above mid-0.7100s

9 November 2021

The NZD/USD pair seesawed between tepid gains/minor losses through the early part of the European session and was last seen trading in the neutral territory, just above mid-0.7100s. The pair struggled to capitalize on its gains recorded over the past two trading sessions and witnessed some selling near the 0.7175 resistance zone on Tuesday. A softer risk tone turned out to be a key factor that weighed on the perceived riskier kiwi, though the downside remains cushioned. Investors turned cautious amid growing acceptance that rising inflationary pressures could force major central banks to hike interest rates earlier than anticipated. The nervousness prompted some profit-taking in the equity markets following the recent strong runup to record high levels.

Meanwhile, the risk-off impulse, along with the Fed's dovish outlook triggered a fresh leg down in the US Treasury bond yields. This, in turn, forced the US dollar to prolong its retracement slide from YTD tops touched on Friday and helped limit deeper losses for the NZD/USD pair.

Apart from this, rising bets for another rate hike by the RBNZ should act as a tailwind for the major and attract some dip-buying at lower levels. That said, traders might refrain from placing fresh bullish bets ahead of Wednesday's release of the US consumer inflation figures.

The markets have been pricing in the possibility of an interest rate hike move by the Fed in 2022 amid worries about a faster rise in inflation. The speculations were reaffirmed by the overnight hawkish comments by a slew of FOMC members, signalling that the central bank could raise rates.

The US CPI report for October will influence Fed rate hike expectations and influence the USD price dynamics, which, in turn, should provide a fresh directional impetus to the NZD/USD pair. In the meantime, traders might take cues from Tuesday's release of the US Producer Price Index (PPI) and Fed Chair Jerome Powell's remarks later during the early North American session.




NZD/USD slips back near intraday low around 0.6290
NZD/USD slips back near intraday low around 0.6290

NZD/USD has failed to defend its intraday low after a modest pullback. Fed policymaker has painted a hawkish picture for the rest of the year. Kiwi’s downbeat employment data could backfire later...

5 Aug 2022

NZD/USD slips below 0.6300 mark
NZD/USD slips below 0.6300 mark

NZD/USD witnessed some follow-through selling on Monday and dropped to a near one-month low. Aggressive Fed rate hike bets, the risk-off mood benefitted the safe-haven USD and exerted pressure...

13 Jun 2022

NZD/USD struggles near two-week low, around mid-0.6400s
NZD/USD struggles near two-week low, around mid-0.6400s

A combination of factors dragged NZD/USD to over a two-week low on Tuesday. A softer risk tone undermined the risk-sensitive kiwi amid modest USD strength...

7 Jun 2022

The Kiwi found support
The Kiwi found support

NZDUSD continues rising supported by the RBNZ’s decisions. The New Zealand Dollar continues rising against the USD in the middle of the week. The current quote for the instrument is 0.6498...

25 May 2022

The Kiwi improved
The Kiwi improved

NZDUSD rose after the RBNZ’s decisions but couldn’t keep up. The New Zealand Dollar rose pretty much against the USD in the morning but couldn’t keep the positive momentum later...

13 Apr 2022

NZD/USD moves back above 0.7000 mark
NZD/USD moves back above 0.7000 mark

NZD/USD gained traction for the second successive day and shot to a fresh YTD high on Tuesday. The uncertainty underpinned commodities and benefitted...

5 Apr 2022

HFM information and reviews
IronFX information and reviews
FXCM information and reviews
Pepperstone information and reviews
NordFX information and reviews
LegacyFX information and reviews

© 2006-2022 Forex-Ratings.com

The usage of this website constitutes acceptance of the following legal information.
Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website (reviews, brokers' news, comments, analysis, quotes, forecasts or other information materials provided by Forex Ratings, as well as information provided by the partners), including graphical information about the forex companies, brokers and dealing desks, is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Forex Ratings shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about the forex companies. The entire responsibility for the contents rests with the commentators. Reprint of the materials is available only with the permission of the editorial staff.
We use cookies to improve your experience and to make your stay with us more comfortable. By using Forex-Ratings.com website you agree to the cookies policy.