NZDUSD Technical Analysis 09.02 - 16.02: Rally to Bullish Reversal
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newdigital, 2014.02.09 14:41
NZD/USD weekly outlook: February 10 - 14The New Zealand dollar rose to a nine-day high against its U.S. counterpart on Friday, as a mixed U.S. employment report forced investors to recalibrate their assumptions about the future course of the Federal Reserve's monetary policy.
Tuesday, February 11
Federal Reserve Chair Janet Yellen is to testify on the bank’s semiannual monetary policy report before the House Financial Services Committee, in Washington.
Thursday, February 13
The U.S. is to produce data on retail sales, the government measure of consumer spending, which accounts for the majority of overall economic activity. The nation is also to release the weekly report on initial jobless claims.
Federal Reserve Chair Janet Yellen is to testify on the bank’s semiannual monetary policy report before the House Financial Services Committee, in Washington.
Friday, February 14
The U.S. is to wrap up the week with the closely watched preliminary reading of the University of Michigan consumer sentiment index. The U.S. is also to release data on import prices and industrial production.
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newdigital, 2014.02.09 13:19
Forex - Weekly outlook: February 10 - 14The dollar was broadly lower against the other main currencies on Friday after data showed that the U.S. economy added fewer-than-expected jobs last month, but the data did little to alter expectations that the Federal Reserve will continue to scale back its stimulus program.
Monday, February 10
Japan is to produce data on the current account, bank lending and consumer confidence.
In the euro zone, France is to release data on industrial production.
Tuesday, February 11
Markets in Japan are to remain closed for a national holiday.
The U.K. is to release private sector data on retail sales.
Australia is to produce private sector data on business confidence, as well as reports on home loans and house price inflation.
Federal Reserve Chair Janet Yellen is to testify on the bank’s semiannual monetary policy report before the House Financial Services Committee, in Washington.
Later in the day, Canada’s government is to release its annual budget statement.
Wednesday, February 12
Australia is to produce a private sector report on consumer sentiment.
Japan is to release data on core machinery orders and tertiary industry activity.
Switzerland is to publish data on consumer price inflation, which accounts for the majority of all inflation.
The euro zone is to release data on industrial production.
The BoE is to release its quarterly inflation report, which outlines projections for economic growth and inflation. BoE Governor Mark Carney is to hold a press conference to discuss the contents of the report.
ECB President Mario Draghi is to speak at an event in Brussels.
Thursday, February 13
Australia is to publish data on the change in the number of people employed and the unemployment rate, as well as a private sector report on inflation expectations.
Switzerland is to publish data on producer price inflation.
The ECB is to publish its monthly bulletin.
Canada is to release data on new house price inflation.
The U.S. is to produce data on retail sales, the government measure of consumer spending, which accounts for the majority of overall economic activity. The nation is also to release the weekly report on initial jobless claims.
Federal Reserve Chair Janet Yellen is to testify on the bank’s semiannual monetary policy report before the House Financial Services Committee, in Washington.
Friday, February 14
China is to release data on consumer and producer inflation.
The euro zone is to release preliminary data on fourth quarter gross domestic product, the broadest indicator of economic activity and the leading indicator of economic growth. Germany, France and Italy are also to release preliminary estimates on fourth quarter growth.
Canada is to produce data on manufacturing sales.
The U.S. is to wrap up the week with the closely watched preliminary reading of the University of Michigan consumer sentiment index. The U.S. is also to release data on import prices and industrial production.
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newdigital, 2014.02.11 16:32
2013-02-11 15:00 GMT (or 16:00 MQ MT5 time) | [USD - Fed Chair Yellen Speech]
- past data is n/a
- forecast data is n/a
- actual data is n/a according to the latest press release
Due to testify on the Semiannual Monetary Policy Report before the House Financial Services Committee, in Washington DC
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Europe Stocks Rise as Yellen Says Jobs Recovery Not Over
European stocks rose, with the Stoxx Europe 600 Index climbing for a fifth day, as Federal Reserve Chairman Janet Yellen said more work is needed to restore the labor market to health.
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Fed chair Janet Yellen promises 'continuity,' further stimuls reduction
U.S. Federal Reserve Chair Janet Yellen says that if the economy keeps improving, the U.S. central bank will take "further measured steps" to reduce the support it's providing through monthly bond purchases.
In her first public comments since taking over the top Fed job last week, Yellen said Tuesday that she expects a "great deal of continuity" with her predecessor, Ben Bernanke. She signalled that she supports his view that the economy is strengthening enough to withstand a pullback in stimulus but that interest rates should stay low to fuel further growth.
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NZDUSD M5 : 25 pips price movement by USD - Fed Chair Yellen Speech news event
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newdigital, 2014.02.12 07:52
2013-02-12 02:00 GMT (or 03:00 MQ MT5 time) | [CNY - Trade Balance]
- past data is 25.6B
- forecast data is 23.6B
- actual data is 31.9B according to the latest press release
if actual > forecast = good for currency (for CNY in our case)
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AUD buyers cheer up 'unbelievable' Chinese trade numbers
The Australian and New Zealand currencies were the main beneficiary of an astonishingly strong China trade balance, catching most of the players by surprise.
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NZDUSD M5 : 36 pips price movement by CNY - Trade Balance news event
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newdigital, 2014.02.14 07:35
2013-02-14 01:30 GMT (or 02:30 MQ MT5 time) | [CNY - CPI]- past data is 2.5%
- forecast data is 2.4%
- actual data is 2.5% according to the latest press release
if actual > forecast = good for currency (for CNY in our case)
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China CPI Climbs 2.5% On Year In January
Consumer prices in China were up 2.5 percent on year in January, the National Bureau of Statistics said on Friday.
That was unchanged from the December reading, and it exceeded forecasts for 2.4 percent.
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NZDUSD M5 : 13 pips price movement by CNY - CPI news event
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newdigital, 2014.02.14 15:37
2013-02-14 14:15 GMT (or 15:15 MQ MT5 time) | [USD - Industrial Production]- past data is 0.3%
- forecast data is 0.3%
- actual data is -0.3% according to the latest press release
if actual > forecast = good for currency (for USD in our case)
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U.S. Industrial Production Shows Unexpected Drop In January
With severe weather curtailing manufacturing production in some regions of the country, the Federal Reserve released a report on Friday showing that U.S. industrial production unexpectedly decreased in the month of January.
The report said industrial production fell by 0.3 percent in January after rising by 0.3 percent in December. The pullback came as a surprise to economists, who had expected production to increase by another 0.3 percent.
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NZDUSD M5 : 17 pips price movement by USD - Industrial Production news event
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NZDUSD D1 price finished this week by good breakout : price broke few resistance levels and went to Ichimoku cloud/kumo
If we look at W1 and H4 timeframes so we may see the following :
- W1 price is on ranging condition for few weeks,
- primary bullish is going on for H4 timeframe
If the price will break 0.8303 resistance on D1 close bar so it will be strong signal to bullish reversal.If not so we may see the ranging market condition.
UPCOMING EVENTS (high/medium impacted news events which may be affected on NZDUSD price movement for this coming week)
2013-02-11 15:00 GMT (or 16:00 MQ MT5 time) | [USD - Fed Chair Yellen Speech]
2013-02-12 02:00 GMT (or 03:00 MQ MT5 time) | [CNY - Trade Balance]
2013-02-13 13:30 GMT (or 14:30 MQ MT5 time) | [USD - Retail Sales]
2013-02-13 15:00 GMT (or 16:00 MQ MT5 time) | [USD - Fed Chair Yellen Speech]
2013-02-14 01:30 GMT (or 02:30 MQ MT5 time) | [CNY - CPI]
2013-02-14 01:30 GMT (or 02:30 MQ MT5 time) | [CNY - PPI]
2013-02-14 14:55 GMT (or 15:55 MQ MT5 time) | [USD - University of Michigan Consumer Sentiment]
Please note : some US (and CNY) high/medium impacted news events (incl speeches) are also affected on NZDUSD price movementSUMMARY : bullish
TREND : ranging
Intraday Chart