NZD/USD gives Aug 2011 low another shot

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"The resulting extra downward pressure [from diminishing GDP growth] on underlying inflation will prompt RBNZ to cut interest rates by more than the markets expect, to 2.75%. The result will be a further weakening in the New Zealand dollar, perhaps eventually to US$0.60." 
- Capital Economics (based on WBP Online)

Pair's Outlook 
The New Zealand Dollar misbehaved on Monday, as it appreciated against the US Dollar, rather then plunging. Worse-than-expected US fundamentals most likely influenced the NZD/USD pair's positive outcome. However, the 0.70 psychological level prevented the climb and is likely to do so again today, forcing the Kiwi to resume the bearish trend. The August 2011 low at 0.6949 remains the target for today; while little chance of a slump beyond the low exists, as technical indicators retain mixed signals. 

Traders' Sentiment 
Market sentiment weakened again, with 43% of traders now having a positive outlook towards the Kiwi. The portion of orders to acquire the NZ Dollar increased; they now take up 47% of the market.
© Dukascopy Bank SA
Back to articles

Actual Topics

Wed, 17 Jun 2015 06:35:52 GMT

EUR/USD slows down, remains above weekly PP

Despite an attempt to grow beyond the 23.6% Fibonacci retracement (May 2014 - Mar 2015), the EUR/USD pair was rejected by this level and the long-term downtrend around 1.1340.

Tue, 16 Jun 2015 13:06:05 GMT

USD/CAD keeps edging higher

Yet again the US Dollar fails to live up to expectations, as it did not advance as much versus the Canadian currency.

Subscribe to "Fundamental Analysis" feed

Subscribe
Aby dowiedzieć się więcej o handlu Forex/CFD na platformie Dukascopy Banku, rynku SWFX oraz innych rzeczy związanych z handlem,
zadzwoń do nas lub poproś o oddzwonienie.
For further information regarding potential cooperation,
please call us or make callback request.
Aby dowiedzieć się więcej o Opcjach Binarnych w Banku Dukascopy / platformach handlowych Forex, SWFX, oraz innych,
zadzwoń do nas lub pozostaw prośbę o oddzwonienie.
Aby dowiedzieć się więcej o handlu Forex/CFD na platformie Dukascopy Banku, rynku SWFX oraz innych rzeczy związanych z handlem,
zadzwoń do nas lub poproś o oddzwonienie.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.