Dukascopy - Analytics

    Dukascopy

    464.50 6.25/10
    83% of positive reviews
    Real

    Oil creates slipstream for Kiwi

    © Dukascopy Bank SA
    "There is a fair bit of nervousness going into the Fed meeting. Interest rate markets have postponed rate hikes in 2016 and 2017 so investors expect something dovish from the Fed, given the volatility in stock markets." 
    - Nordea (based on Business Recorder) 


    Pair's Outlook 
    The NZD/USD ended the day lower on Monday, reaching its target of 0.6455, thus, closing trade between the weekly PP and the monthly S1. The Kiwi edged further down today, but retreated from intraday losses, after commodities negated losses. Nevertheless, the weekly PP keeps providing resistance just above the opening price, while the monthly S2—support below the opening price. At the same time, technical indicators retain distinctly bearish signs, implying the New Zealand Dollar is to turn back into the red zone. 

    Traders' Sentiment 
    Market sentiment remains bullish, but now at 63%, compared to 66% on Monday. The portion of orders to acquire the Kiwi also deteriorated, falling 11 percentage points to a total of 47%.
    © Dukascopy Bank SA

    To leave a comment you must or Join us


    By visiting our website and services, you agree to the conditions of use of cookies. Learn more
    I agree