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Nzd/usdTitle:
Hard Week for Dollar as US Economy Stalls
The US dollar dropped this week against most major currencies as the macroeconomic data was terrible, reducing attractiveness of the currency as a safe asset.
The global economic situation wasn’t very favorable for the dollar. The influence of the European crisis on market sentiments weakened somewhat, higher-yielding assets are again in favor of investors, erasing appeal of safe currencies.
Without the support from outside of the US the dollar could only rely on the new from America. And the news were really. Virtually every sector of the US economy, be it manufacturing of the housing market, performed very bad. Some analysts think that the reasons for the economic slowdown were temporary, like the fuel prices hike last month, and soon we’ll see again evidences of the economic recovery ...
Title:
G8 Optimism on Global Growth Seems Wishful Thinking
The Week Ahead
Highlights
G8 optimism on global growth seems wishful thinking
June's event risks are make-or-break for the Eurozone
There's more than meets the eye to the Swissie
The Loonie's flight path facing some turbulence
Key data and events to watch next week
G8 optimism on global growth seems wishful thinking
The past week ended on an upbeat note for risk assets (stocks and commodities) and a weaker USD ostensibly on the pronouncement from the G8 that the global recovery is “gaining strength and is becoming more self-sustained.” However, incoming economic data suggest the opposite, namely that growth in major developed economies is showing signs of slippage. Just in the past week, key Eurozone PMI's and business confidence indexes posted larger than expected ...
Title:
Dollar Falls to Record Low vs Swiss Franc
The Swiss franc and the Japanese yen were the strongest performers yesterday as the Greek debt crisis continues to weigh on the euro. Weak US data has pushed market players into alternative safe-haven currencies rather than the US dollar.
Economic News
USD - Dollar Falls to Record Low vs Swiss franc
The dollar has begun to weaken again as traders are turning to substitutes for a safe-haven currency rather than the traditional US dollar. Weak US data has kept a negative tone in the market for dollars and yesterday was no exception. The US preliminary GDP report was released in turn with the weekly jobs report and both fell short of market forecasts. US Q1 GDP came in at 1.8% on expectations for an increase of 2.2% while new jobless claims rose 424K on forecasts of only 403K. The ...
Title:
Forex Technical Analysis : 05/27/2011
- Forex Technical Analysis : 05/27/2011 -
(Timeframes: 30 minutes)
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Title:
Technical analysis of the NZD/USD pair on May 27th, 2011
Commentary of the NZD/USD pair :
The pair NZD/USD continued its strong bullish movement and the breakout of 0.81 gave us a new buy signal.
Currently, the pair is testing the next resistance at 0.82.
We maintain to trade only long positions as far as 0.81 is support.
The breakout of 0.82 will give a new buy signal and open the way towards 0.83.
See the previous analysis of the NZD/USD pair of May 26th, 2011
Title:
New Zealand Dollar Jumps on Chinese Investments
The New Zealand dollar surged today on the speculation that Chinese companies are interested in buying the New Zealand assets.
Interest.co.nz said that China Investment Corporation, a sovereign wealth fund, is planning to invest in the South Pacific nation’s assets, including government bonds, companies and dairy farms. According to the website, the company may set aside 1.5 percent (equivalent of about NZ$6 billion) of its foreign exchange reserves for investments in the New Zealand assets. Finance Minister Bill English said he “won’t be surprised” to see China’s companies investing in the county. English stated that New Zealand plans to double its exports to China within four years.
NZD/USD jumped to 0.8087 from 0.7974 today as of 16:38 GMT after reaching the intraday high of 0.8116. ...
Title:
Euro Gains on Chinese Interest while Gold Falls $10
The FX markets have calmed following the sharp price moves seen in the Asian session as traders await US economic data later. The euro and equities are higher spurred by Chinese interest in Portuguese bailout debt and dollar block currencies.
The Nikkei finished the day up 1.48% following a Financial Times report citing Chinese interest in the Portuguese debt auctions from the European Financial Stability Facility. The euro was a prime beneficiary of this move and the currency is trading higher today across the board. The report helped to put the Greek debt crisis on the back burner and turn the focus on global reserve managers and FX diversification which had previously been a catalyst for the euro. The EUR/USD easily took out the 1.4130 resistance in the Asian session, moving as high ...
Title:
Return to the “Risk-On” Trade in Asia Boosts the NZD and Commodities
In Asian trading the dollar block currencies and commodities were noticeably higher with Asian bourses climbing, signaling a potential rebound in the “risk-on” trade.
Economic News
USD - Dollar Mixed After Durable Goods Report
The greenback was mixed yesterday following weaker than expected core durable goods orders, -1.5% on consensus expectations of a gain of 0.7%. The March output was revised higher to 2.5% from a previous 1.3%. Initially the report fed into a bout of USD buying but the negative tone dissipated with the euro eventually reaching 1.4117 before closing back at 1.4081. Earlier in the day the EUR/USD dipped to its daily low at 1.4013 following disappointing German consumer numbers. Interestingly enough, yesterday's low coincides with the neck line of a potential head ...
Title:
Forex Technical Analysis : 05/26/2011
- Forex Technical Analysis : 05/26/2011 -
(Timeframes: 30 minutes)
USD/CAD Technical Analysis
AUD/USD Technical Analysis
NZD/USD Technical Analysis
GBP/USD Technical Analysis
EUR/USD Technical Analysis
GBP/JPY Technical Analysis
EUR/CHF Technical Analysis
EUR/JPY Technical Analysis
EUR/GBP Technical Analysis
USD/CHF Technical Analysis
USD/JPY Technical Analysis
Crude Oil Technical Analysis
XAG/USD (Silver) Technical Analysis
XAU/USD (Gold) Technical Analysis
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