|Day's Range||0.672 - 0.674|
|52 Week Range||0.6426 - 0.6972|
Stronger numbers from China are likely to be supportive for the Aussie and Kiwi early in the week, but look for volatility to return and a potential change in trend later in the week with the release of the Australia labor market data and the New Zealand consumer inflation report.
Based on Friday’s close at .6695, the direction of the NZD/USD on Monday is likely to be determined by trader reaction to the downtrending Gann angle at .6702 and the uptrending Gann angle at .6703.
Investing.com -- The dollar was broadly weaker across the board early Friday in Europe, with commodity currencies making a comeback after two days of Congressional testimony from Federal Reserve Chairman Jerome Powell that made a bias to easing monetary policy crystal clear.
Investing.com - The U.S. dollar index steadied on Wednesday in Asia ahead of a speech by Federal Reserve Chairman Jerome Powell, who is due to appear before Congress on Wednesday and Thursday for his semiannual testimony.
Powell is likely to reiterate his “wait and see” and “data determinant” approach. He’s not likely to tip his hand because he knows he can impact the financial markets. No matter what he says, the markets will be impacted. He just want to minimize the volatility.
Based on Friday’s price action, the direction of the NZD/USD on Monday is likely to be determined by trader reaction to a pair of Gann angles at .6627 and .6647.
Based on the earlier price action, the direction of the NZD/USD into the close is likely to be determined by trader reaction to the short-term 50% level at .6607. The late session intraday rally could stop at .6637 to .6647.
Based on the early price action, the direction of the NZD/USD on Friday is likely to be determined by trader reaction to the intermediate Fibonacci level at .6669.
The early trading ranges are tight, but volatility could hit the Forex market later in the session with the release of several U.S. reports that could have an impact on Fed policy later in the month. Basically, stronger-than-expected U.S. data is likely to put pressure on the AUD/USD and NZD/USD.
It’s risk off early on as the markets now look to economic data for direction near-term. Trade negotiations are likely to drag on…
Based on the early price action, the direction of the NZD/USD on Wednesday is likely to be decided by trader reaction to the short-term Gann angle at .6687.
A major decline of 0.34% in the GBP/USD pair’s movements came following BoE’s Carney’s dovish medium-term economic outlook. The Kiwi pair was taking rounds near the last closing throughout the day.
Based on yesterday’s close at .6676 and the early price action, the direction of the NZD/USD on Tuesday will likely be determined by trader reaction to .6664.
The Greenback is on the move. Weak stats out of China failed to hit risk appetite as the markets respond to news of a resumption of trade talks.
Based on Friday’s close at .6717, the direction of the NZD/USD on Monday is likely to be determined by trader reaction to the main 50% level at .6710.
This week’s focus for investors will be on this weekend’s decision by the United States and China to resume trade talks after U.S. President Trump and Chinese President Xi Jinping met at the G-20 summit in Osaka, Japan. On paper the news is bullish for the Australian Dollar since the country is China’s largest trade partner. However, there are still concerns that the trade dispute will continue to linger on because the two parties are still wide apart on issues
Based on the early price action, the direction of the NZD/USD on Friday is likely to be determined by trader reaction to the uptrending Gann angle at .6687. Essentially, the 50% level at .6710 and the uptrending Gann angle at .6687 are holding the NZD/USD in a range. Look for the upside bias to continue on a sustained move over .6710. Taking out .6687 could signal the start of a downtrend.
Investing.com -- The dollar was quiet in a narrow range against most currencies in early trading in Europe Friday as markets await the outcome of the G20 meeting in Osaka, looking for signs of rapprochement between the U.S. and China.
As the G20 gets underway, the majors take the safer path. There’s a lot riding on Trump and Xi finding common ground on trade…
In the middle of adverse EUR data, the most significant German June YoY HICP figures reported in-line with the previous 1.3%. The US Jobless Claims data missed estimates and revealed slightly higher figures.
Markets are content to remain in wait and see mode sowing little reaction to the headline and with the bar low for anything to emerge from the weekend meeting traders have turned better sellers of even risk premium which continues to stabilise markets and produces these lustreless conditions.
Investing.com - The U.S. dollar rose while the Japanese yen fell on Thursday in Asia ahead of the highly anticipated G-20 summit that is set to kick off tomorrow.