Don’t waste your time – keep track of how NFP affects the US dollar!
Beginner Forex book will guide you through the world of trading.
We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.
Warning! Old version of the browser!
Press one of the icons below to proceed to the official website of the developer and download the latest version of your browser.
Online Forex broker
Information is not investment advice
Rarely can you see such a symmetric cascade of several swings presented by a currency price. NZD/JPY seems to be in a moment of indecisiveness between the support of 70.000 and resistance 71.300.
As you can see, this wavy sideways movement has started at the beginning of February – that’s when, instead of seeing the expected tip of the crisis, the media have announced that things were actually going worse with the Coronavirus. It was then when the investors realized that the situation is not going to be resolved that easy and that the damage will be more long-term. Gold also started rising in approximately the same period, which marked the market’s final “conviction” that Coronavirus would not leave soon.
Also, on February 12, the RBNZ Governor Orr announced the steady interest rate of 1%, which was somewhat reassuring for the NZD – that’s why it went into its second wave on that day. But after, the news kept becoming more and more grim with respect to the virus, that’s why NZD is running out of fuel to beat the JPY. The latter, in return, also has the same difficulty: there is no firm ground to appreciate, just contracting economy in Japan, and the frightening resilience of the Coronavirus expansion curve.
Technically, the fluctuation of the price goes in a well-balanced way alongside the Moving Averages, while the Oscillator is currently at the zero-line. Together, these factors also favor continuation of the trend within the mentioned channel of 70.000 – 71.300
Therefore, unless and until the situation significantly changes on either side or in China, we are likely to see the same sideways movement. Maybe just not that beautiful.
The U.S. Commerce Department said it will issue an order Friday that will bar people in the United States from downloading Chinese-owned messaging app WeChat and video-sharing app TikTok starting on September 20.
After yesterday's equity sell-off things are looking mixed in the Asian session this morning.
US stock markets tumbled at the opening on Thursday as the Federal Reserve's warnings about a slow recovery from the pandemic.
The New Zealand dollar is rising for the sixth straight day, outperforming its major peers. What is the reason? Let’s find out!
The U.S. Commerce Department said it will issue an order Friday that will bar people in the United States from downloading Chinese-owned messaging app WeChat and video-sharing app TikTok starting on September 20.
Oil keeps rallying for the fourth day in a row after Goldman Sachs claimed that the oil market is in deficit and also because of the recent storm in the Gulf of Mexico, which led to the sharp decline of oil production. It is the best week for oil since June!
