NZD/USD is on the backfoot following a surge in US yields


  • NZD/USD bulls licking their wounds into the final day of the week.
  • NFP on the cards as a fatal blow or a lifeline following Fed's Powell.

NZD/USD is trading at 0.7192 and down on the day by some 0.7% following the market rout on the back of Federal Reserve's chair, Jerome Powell, who stuck to the script encouraging a spike in US yields. 

The commodity complex was stead ahead of Fed Chairman Powell’s speech and the February nonfarm payroll report on Friday whether expectations have been tempered by recent data.

Powell explained that for the foreseeable future, the Fed is going to deliberately sit behind the curve and in reference to recent fixed income moves, he did note that the Fed would be concerned if financial conditions tightened notably.

However, there are no indications that the Fed was alarmed by the market volatility but he hinted that the Fed could take action if needed.

Meanwhile, in recent trade, New Zealand has issued a tsunami warning for some north island coastal areas.

NZD/USD

Overview
Today last price 0.7192
Today Daily Change -0.0056
Today Daily Change % -0.77
Today daily open 0.7248
 
Trends
Daily SMA20 0.7258
Daily SMA50 0.7203
Daily SMA100 0.7045
Daily SMA200 0.6809
 
Levels
Previous Daily High 0.7305
Previous Daily Low 0.7237
Previous Weekly High 0.7466
Previous Weekly Low 0.7223
Previous Monthly High 0.7466
Previous Monthly Low 0.7135
Daily Fibonacci 38.2% 0.7263
Daily Fibonacci 61.8% 0.7279
Daily Pivot Point S1 0.7222
Daily Pivot Point S2 0.7196
Daily Pivot Point S3 0.7154
Daily Pivot Point R1 0.729
Daily Pivot Point R2 0.7332
Daily Pivot Point R3 0.7358

 

 

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