- NZD/USD extends pullback from the one-week high.
- Doubts concerning the US aid package, coronavirus updates seem to renew the risk-off.
- The US Senate voting on the COVID-19 Bill, Jobless Claims will be important.
NZD/USD drops to 0.5790, currently around 0.5805, following its pullback from the weekly high during the Asian session on Thursday. The kiwi pair failed to cheer the US COVID-19 Bill for longer as the policymakers jostle over the details and the execution. Also, likely weighing on the pair could be the latest coronavirus (COVID-19) updates that signal fears emanating from the UK and Tokyo.
Despite agreeing over the $2.2 trillion packages to combat the deadly virus, the US Senators witness differences as far as the execution of the aid bundle is concerned, as signalled by Fox News. As a result, the policymakers are soon expected to vote on the amendment concerning the unemployment insurance provisions in the coronavirus relief package.
On the other hand, the big jump in the coronavirus numbers from the UK and looming fears of the Tokyo lockdown weigh on the risk-tone. Also adding to the skepticism could be US President Donald Trump’s worries concerning New York City due to the pandemic.
Recently, the Governor of Colorado ordered a state-wide stay-at-home order and magnified the risk-off.
That said, the US 10-year treasury yields step back from earlier recoveries while declining three basis points (bps) to 0.83% whereas the US stock futures also fail to replicate Wall Street’s gains.
Apart from the voting on the US COVID-19 bill, the US Jobless Claims is likely to grab a major attention today as the figure is expected to surge, to 1000K from 281K prior, due to the pandemic. Also important will be the coronavirus updates from the rest of the globe as well as the final reading of the US fourth quarter (Q4) GDP growth, expected to remain unchanged at 2.1%.
10-day SMA near 0.5840 offers the immediate upside barrier to the pair while sellers will wait for entry below 0.5730.
Additional important levels
|Today last price||0.5801|
|Today Daily Change||-27 pips|
|Today Daily Change %||-0.46%|
|Today daily open||0.5828|
|Previous Daily High||0.584|
|Previous Daily Low||0.5688|
|Previous Weekly High||0.6151|
|Previous Weekly Low||0.547|
|Previous Monthly High||0.6504|
|Previous Monthly Low||0.6192|
|Daily Fibonacci 38.2%||0.5782|
|Daily Fibonacci 61.8%||0.5746|
|Daily Pivot Point S1||0.5731|
|Daily Pivot Point S2||0.5634|
|Daily Pivot Point S3||0.5579|
|Daily Pivot Point R1||0.5883|
|Daily Pivot Point R2||0.5937|
|Daily Pivot Point R3||0.6034|
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.