- NZD/USD fails to hold onto a four-day winning streak.
- New Zealand’s second-tier data came in weaker.
- The US COVID-19 Task Force Briefing suggests Trump-Xi talk.
- US House voting on the coronavirus bill, virus updates will provide fresh impulse.
NZD/USD pulls back from an eight-day top to 0.5945 amid the early Asian session on Friday. The kiwi pair recently witnessed declines following New Zealand’s ANZ-Roy Morgan Consumer Confidence and Total Filled Jobs data while the US dollar seems to have benefited from the calls of the US-China talk and risk reset.
New Zealand’s March month ANZ-Roy Morgan Consumer Confidence slipped below 122.1 prior to 106.3 whereas the Total Filled Jobs for February rose to 2.21M from 2.2 earlier.
In his Coronavirus Task Force Briefings, US President Donald Trump signaled that he will talk to China’s President Xi Jinping and discuss the virus issue on Thursday. The US leader also pushed for a US coronavirus bill that is in the final stages of being the law.
The US dollar dropped earlier amid the coronavirus (COVID-19) outbreak in the world’s largest economy. The cases grew beyond 81,000, as per the New York Times, while surpassing China. Furthering the greenback weakness was a spike in the Jobless Claims that rose beyond 3.0 million from a measure upwardly revised 282K.
On the other hand, the risk-tone remained positive with Wall Street marking the third day in green while the US 10-year treasury yields also recovering back to 0.85%. However, the stock futures are showing a sign of risk reset off-late.
Looking forward, market players are likely to concentrate more on the US House voting on the bill as well as virus headlines while comments from the Trump-Xi call and the US Michigan Consumer Sentiment might also offer intermediate moves.
A sustained break of a 10-day SMA level of 0.5845 enables the buyers to target 21-day SMA near 0.6060.
Additional important levels
|Today last price||0.5947|
|Today Daily Change||97 pips|
|Today Daily Change %||1.66%|
|Today daily open||0.585|
|Previous Daily High||0.5913|
|Previous Daily Low||0.5788|
|Previous Weekly High||0.6151|
|Previous Weekly Low||0.547|
|Previous Monthly High||0.6504|
|Previous Monthly Low||0.6192|
|Daily Fibonacci 38.2%||0.5865|
|Daily Fibonacci 61.8%||0.5836|
|Daily Pivot Point S1||0.5788|
|Daily Pivot Point S2||0.5726|
|Daily Pivot Point S3||0.5663|
|Daily Pivot Point R1||0.5912|
|Daily Pivot Point R2||0.5975|
|Daily Pivot Point R3||0.6037|
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.