The Latest in Forex News & Analysis.

NZ Manufacturing PMI 56.8

By CR | May 11, 2017 6:42 pm | 0 Comments

New Zealand April Manufacturing PMI came out  56.8  vs 57.8 prior, putting renewed pressure on KIWI Dollar.

Market now expecting zero chance of RBNZ’s rate hike this year after a surprisingly Dovish statement yesterday, currently pricing in 48% of a 25 hike sometime during Q1 in 2018.

Technically, first resistance at 0.6860 then 0.6920 level before dovish RBNZ, while downside watch 0.6817 intraday low then below that not much support till 0.6670-80 low seen in May 2016.

RBNZ Governor Wheeler Press conference

By CR | May 10, 2017 10:23 pm | 0 Comments

– Lack of inflation pressure the main reason for keeping a neutral stance

– Don’t see accelerating inflation pressure

– NZ Economy showing less capacity pressure

– We are not going to burst of inflation

– We’ve kept a neutral stance

– Expect OCR to remain 1.75% for foreseeable future

RBNZ leaves rates unchanged

By CR | 10:18 pm | 0 Comments

Statement was surprisingly dovish

  • Policy will remain accommodative for considerable period.

NZD drops a big figure from 0.6940 to 0.6830 low

FAREAST session update

By CR | 2:13 am | 0 Comments

BOJ Governor Kuroda spoke in the diet said weak Yen boost corporate profits, capital spending, but tends to reduce households purchasing power, need to continue powerful easing.

$JPY grinded higher from 113.60 to 90 towards Tokyo “Go-Toh-Bi” fixing. N225 struggling to break above 20k slowing down $JPY’s further rally.

$JPY levels:

  • 115.00 resistance
  • 114.64 fibonacci
  • 114.32 intraday high
  • 113.62 day low
  • 113.40 50% retrace
  • 112.81 Cloud

$JPY Daily Ichimoku

 

EUR$ came off to 1.08 handle on typical “Sell the Fact” move after French election, touched 1.0863 low today before slowly recovering toward 1.09.

next support 200d MA at 1.0830 & 1.0820 low after the first round of  French election, then below that possible to see a further decline towards low 1.07 to close the gap, Ichimoku cloud top at 1.0735 and 1.0720 pre-election NY close level on April 21.

EURUSD daily Ichimoku chart + 200d MA

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