• NZD/USD traders are bracing for volatility this week around the RBNZ.
  • NZD/USD is picking up some of the demand lost for the US dollar.

NZD/USD has opened on Monday where it left off on Friday on an important week for kiwi traders in anticipation of the Reserve Bank of New Zealand. 

The US yield and the US dollar was hammered on Friday on terrible data which supported the commodity complex and the proxy currencies such as the CAD, AUD and NZD.

A survey showed US consumer sentiment dropped sharply in early August to its lowest level in a decade. 

The fall was one of the six largest drops in the past 50 years of the survey. The dollar index DXY, which measures the greenback against a basket of six rivals, was 0.4% lower at 92.523, its lowest since Aug 6. 

NZD/USD is now moving in on recent highs on a week that could bring in plenty of volatility in the bird as traders await the RBNZ's interest decision. 

''This week is set to be volatile locally,'' analysts at ANZ Bank said with respect to the RBNZ noting that the market pricing is split roughly 80/20 in favour of a 25bp hike over a 50bp one.

''The RBNZ’s tone will also matter; given COVID developments in Australia, which highlight just how quickly things can change, caution is likely. Brace for volatility.''

NZD/USD

Overview
Today last price 0.7044
Today Daily Change 0.0001
Today Daily Change % 0.01
Today daily open 0.7043
 
Trends
Daily SMA20 0.6992
Daily SMA50 0.7024
Daily SMA100 0.7096
Daily SMA200 0.7111
 
Levels
Previous Daily High 0.7049
Previous Daily Low 0.6994
Previous Weekly High 0.7063
Previous Weekly Low 0.6969
Previous Monthly High 0.7106
Previous Monthly Low 0.6881
Daily Fibonacci 38.2% 0.7028
Daily Fibonacci 61.8% 0.7015
Daily Pivot Point S1 0.7008
Daily Pivot Point S2 0.6974
Daily Pivot Point S3 0.6953
Daily Pivot Point R1 0.7063
Daily Pivot Point R2 0.7084
Daily Pivot Point R3 0.7118

 

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news Join Telegram

Recommended content


Recommended content

Editors’ Picks

AUD/USD Price Analysis: Bounces on Double Bottom, bullish reversal needs more filters

AUD/USD Price Analysis: Bounces on Double Bottom, bullish reversal needs more filters

The AUD/USD pair is going through a correction phase after facing barricades around 0.6920 in the New York session. The asset displayed some signs of reversal on Thursday after finding bids while testing two-week-old support at 0.6850.

AUD/USD News

USD/JPY inches towards 136.00 on higher-than-expected Unemployment data

USD/JPY inches towards 136.00 on higher-than-expected Unemployment data

The USD/JPY pair is aiming towards 136.00 as the Statistics Bureau of Japan has reported higher-than-expected Unemployment data. 

USD/JPY News

Gold Price Forecast: XAU/USD struggles to defend $1,800 as DXY rebounds ahead of US ISM PMI

Gold Price Forecast: XAU/USD struggles to defend $1,800 as DXY rebounds ahead of US ISM PMI

Gold Price (XAU/USD) holds onto the previous day’s bearish bias, despite taking rounds to the multi-day low surrounding $1,805 during Friday’s Asian session.

Gold News

One of the most iconic American rappers is bullish on Ethereum despite recent price slump

One of the most iconic American rappers is bullish on Ethereum despite recent price slump

Snoop Dogg and his son Champ Medici are one of the most prominent celebrities in the Ethereum NFT ecosystem. Dogg argues that the bear market is weeding out all the people who are not supposed to be in the space.

Read more

FXStreet Premium users exceed expectations

FXStreet Premium users exceed expectations

Tap into our 20 years Forex trading experience and get ahead of the markets. Maximize our actionable content, be part of our community, and chat with our experts. Join FXStreet Premium today!

BECOME PREMIUM

Forex MAJORS

Cryptocurrencies

Signatures