Back
16 Aug 2013
NZD/USD tight ranges sub 0.8100
FXstreet.com (Barcelona) - NZD/USD has kept to a tight range in European markets as we draw to a close below 0.8100 the figure.
NZD/USD dropped from 0.8100 in London yesterday, then climbed from below 0.8000 back above 0.8100 overnight when offers took the pair back to 0.8067 on handover to the Europeans again. For NZD/USD, the main headlines were the earthquakes! “A series of earthquakes have impacted New Zealand’s capital, Wellington.While the NZD may underperform over the next few trading zones we do not expect the impact to be long-lasting given the Governor’s clear tightening bias. The local Wellington markets were interrupted and prices on screen may not necessarily have traded but it seems fair to conclude that fixed income rallied up to 8bp across the bond and swap curves in response to the earthquake(s). Policy implication is little at this stage. ”, - Alvin Pontoh, Asia-Pacific Macro Strategist, FX & Rates Strategy at TD Securities. The US, Consumer Sentiment Index (August) came in 80.0, against a consensus of 85.5. In addition, Housing Starts (MoM) were in at 0.896M in July, vs estimates of 0.900M. Finally, Building Permits (MoM) came in at 0.943M, against expectations of 0.945M.
NZD/USD with a positive bias
NZDUSD is still in positive territory, and the 20 dma is 0.7976, the 50 dma is 0.7901, the 200 dma is 0.8213. RSI (9) is reading 63.21. Supports are ascending from 0.7957, 0.7997, 0.8005 0.8038. Spot is currently 0.8096 while resistances are 0.8137, 0.8164 0.8173 and 0.8213.
NZD/USD dropped from 0.8100 in London yesterday, then climbed from below 0.8000 back above 0.8100 overnight when offers took the pair back to 0.8067 on handover to the Europeans again. For NZD/USD, the main headlines were the earthquakes! “A series of earthquakes have impacted New Zealand’s capital, Wellington.While the NZD may underperform over the next few trading zones we do not expect the impact to be long-lasting given the Governor’s clear tightening bias. The local Wellington markets were interrupted and prices on screen may not necessarily have traded but it seems fair to conclude that fixed income rallied up to 8bp across the bond and swap curves in response to the earthquake(s). Policy implication is little at this stage. ”, - Alvin Pontoh, Asia-Pacific Macro Strategist, FX & Rates Strategy at TD Securities. The US, Consumer Sentiment Index (August) came in 80.0, against a consensus of 85.5. In addition, Housing Starts (MoM) were in at 0.896M in July, vs estimates of 0.900M. Finally, Building Permits (MoM) came in at 0.943M, against expectations of 0.945M.
NZD/USD with a positive bias
NZDUSD is still in positive territory, and the 20 dma is 0.7976, the 50 dma is 0.7901, the 200 dma is 0.8213. RSI (9) is reading 63.21. Supports are ascending from 0.7957, 0.7997, 0.8005 0.8038. Spot is currently 0.8096 while resistances are 0.8137, 0.8164 0.8173 and 0.8213.