Don’t waste your time – keep track of how NFP affects the US dollar!

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Join the Facebook community of FBS!

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Email tooltip

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

FBS Mobile Personal Area

FREE

View
NZD surged to highs of 2019

NZD surged to highs of 2019

Information is not investment advice

The New Zealand dollar is rising for the sixth straight day, outperforming its major peers. What is the reason? Let’s find out!

What happened?

The kiwi was driven up by the optimistic comments of Finance Minister Grant Robertson. He claimed that the economic recovery turned out better than initially expected, and this may tone down the dovish Reserve Bank of New Zealand. Just to remind you, the dovish statement will push the NZD down, while the hawkish statement will push the NZD up.

If you forget what these definitions mean, you can always check our glossary and refresh your mind what hawkish and dovish statements stand for.

By the way, the RBNZ will make a rate statement already on Wednesday. Therefore, the NZD will be in the center of traders’ attention in the upcoming days. However, some analysts still believe that the central bank will be forced to impose negative rates next year.

Robertson’s optimism over New Zealand’s sustained recovery was based on the upbeat GDP for the second quarter. After that, he added, that this positive data may influence the rate outlook after March 2021, because the RBNZ has to leave the current rate of 0.25% unchanged until this date.

Technical tips

NZD/USD has stepped out of the ascending channel, it has been trading for 10 days. However, it has failed to stabilize above the 200-week moving average at 0.6790. It’s falling to the low level of the first days of September at 0.6750. The move below this support will drive the pair to yesterday’s low of 0.6710.

The bearish scenario is more likely as the pair is constrained by the upper trendline and the 200-week moving average, so there is no room to run upwards. In addition, the overall market sentiment switched to risk-off, weighing on the riskier assets and underpinning safe-havens such as the US dollar. Resistance levels are 0.6790 and 0.6850.

NZDUSDH4.png

NZDUSDWeekly.png

LOG IN

Similar

How to Stay Calm and Trade on Uncertainties

Despite the negative news and worrying headlines, we recommend traders to make mental reframing of the situation. This way, you can look at the market from a different perspective. Let’s observe how you can take advantage of the uncertainties and make the fundamentals work for you!

US Interest Rate Slowdown?

The US Federal Reserve may refrain from more aggressive interest rate hikes in March due to geopolitical risks after Russia's special operation in Ukraine…

Bewitching predictions for 2022

Hello from the far 2022! FBS analysts have used some magic to travel to the future and brought you some hilarious predictions.

Popular

Walmart earnings outlook

Walmart is one of the biggest retail corporations in the US, with $244 billion in total assets. Does it worth buying amid rising prices and supply concerns that shatter the world economy?

What to trade on May 16-20?

Last week brought a selloff in markets. Some assets reached the most crucial support levels and are likely to reverse in a short term. Be ahead of trends and make the most out of this week!

Choose your payment system

Be on top of your game

Callback

Please fill in the form below so we can contact you

Select the best time for us to call you. We give calls from Monday to Friday in suggested intervals. In case we couldn't get through, we will try again at the same time the next day. For getting real-time assistance, use FBS chat.

We provide only English-speaking callbacks. If you prefer any other languages, contact the support team.

We will call you at the time interval that you chose

Change number

Your request is accepted.

We will call you at the time interval that you chose

Next callback request for this phone number will be available in 00:30:00

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later