Forex - NZD/USD higher after RBNZ raises interest rates - General

SOROS 2014.04.21 23:14 #41

Thak you for your signal

Alexander Londono 2014.04.23 22:12 #42

There is a good probability of a bounce to the downside on the NZDUSD at the 0.8644 zone. To the downside, the 0.8600 keeps supporting the price.

thenews 2014.04.24 05:08 #43

NZD/USD higher after RBNZ raises interest rates

The New Zealand dollar was higher against its U.S. counterpart on Thursday, after the Reserve Bank of New Zealand raised interest rates by 0.25% and increased its growth estimate for the ending in March.

NZD/USD hit 0.8636 during late Asian trade, the pair's highest since April 17; the pair subsequently consolidated at 0.8617, rising 0.31%.

The pair was likely to find support at 0.8566, Wednesday's low and resistance at 0.8690, the high of April 15.

In a widely expected move, the RBNZ raised its benchmark interest rate to 3.00% from 2.75%.

The central bank also said that gross domestic product is estimated to have grown 3.5% in the year to March, compared to the previous month's estimate of 3.3%.

Commenting on the decision, RBNZ Governor Graeme Wheeler said the strong kiwi is helping to contain inflation, though current levels may not be sustainable.

Meanwhile, the greenback remained under pressure after data on Wednesday showed that sales of new homes in the U.S. fell to the lowest level since July 2013 in March.

The Commerce Department reported that sales on new homes dropped 14.5% to a seasonally adjusted rate of 384,000. Market expectations had been for sales rate of 450,000.

The kiwi was higher against the euro, with EUR/NZD shedding 0.26% to 1.6042.

Later in the day, the U.S. was to publish data on durable goods orders and the weekly report on initial jobless claims.

source

Labor Productivity - Canada Industrial Output - United Payroll Employment - Canada

Alexander Londono 2014.04.25 22:03 #44

We may still see a visit of the NZDUSD to the 0.8500 level from where a long entry could work.

thenews 2014.04.27 11:31 #45

NZD/USD weekly outlook: April 28 - May 2

The New Zealand regained ground against its U.S. counterpart on Friday but held near a three-week low struck in the previous session as traders continued to weigh uncertainty surrounding developments in Ukraine.

NZD/USD fell to 0.8547 on Thursday, the pair’s lowest since April 4, before subsequently consolidating at 0.8580 by close of trade on Friday, up 0.18% for the day but still 0.11% lower for the week.

The pair is likely to find support at 0.8531, the low from April 4 and resistance at 0.8636, the high from April 24.

Concerns over the conflict between Russian and Ukraine escalated on Friday after U.S. Secretary of State John Kerry warned that Washington was ready to step up economic sanctions against Russia.

Meanwhile, ratings agency Standard & Poor’s cut its rating on Russia on Friday, citing the potential for “additional significant outflows” of capital due to escalating hostilities with Ukraine.

The West is accusing Russia of leading a separatist revolt in eastern Ukraine after it annexed Crimea last month.

Market players also continued to monitor U.S. data for further indications on the strength of the economy and the future course of monetary policy.

Data on Friday showed that consumer confidence rose to a nine-month high in April, adding to signs that the economy is improving.

The University of Michigan reported that its consumer sentiment index came in at 84.1 this month, up from 80 in March and the preliminary reading of 82.6. Analysts had expected the index to rise to 83.0.

Elsewhere, in New Zealand, the Reserve Bank raised interest rates by 0.25% earlier in the week and increased its growth estimate for the quarter ending in March.

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