NZD/USD trade-deal spike capped by bearish pin bar


  • NZD/USD rallies to 0.6635 on Sino/US trade-deal headlines. 
  • UK exit polls point to a Tory landslide which has underpinned risk appetite supporting commodity-FX. 

NZD/USD has pulled back to 0.6620 a the time of writing following a spike to the 0.6635 session highs which came as a consequence to the news that US President Donald Trump signed off on the Sino/US trade deal in order to avert the December tariffs. The combined news of a Tory landslide exit-poll victory has propelled risk appetite to the best levels in months as investors finally get to see some rays of light a the end of the tunnel. 

A consistent build-up in positive news flows surrounding the phase-one deal kept markets buoyed from the off overnight and underpinned the upside in the commodity complex. First off, US President Trump tweeted,

"Getting VERY close to a BIG DEAL with China. They want it, and so do we!"

Confirmation of such news was first reported on Bloomberg TV citing unnamed sources claiming that the US had reached a trade deal in principle with China which was awaiting Trump's sign-off. 

Following the market close, Bloomberg reported that Trump signed off on the Sino/US trade deal which sealed the deal for the bulls and sent the kiwi on to the highest levels since July. There has been speculation that a deal would most likely "stop China issuing its second batch of tariffs on products such as corn, wheat, and rare earth magnets, and reinstating an extra 25% tariff on US-made vehicles and 5% on auto parts which had been suspended earlier this year," analysts at ANZ Bank said. 

Meanwhile, the UK elections are in play with the results of the exit polls claiming a landslide victory for the Tory party which has sent GBP on a tear. The UK election exit polls give the Tory party a majority of 86 in what will be a “phenomenal victory” if the exit polls are accurate. 

Exit poll results in full

And here are the full exit poll results.

  • Conservative majority: 86
  • Conservatives: 368
  • Labour: 191
  • SNP: 55
  • Liberal Democrats: 13
  • Plaid Cymru: 3
  • Greens: 1
  • Brexit party: 0
  • Others: 22

NZD/USD levels

NZD/USD

Overview
Today last price 0.662
Today Daily Change 0.0032
Today Daily Change % 0.49
Today daily open 0.6588
 
Trends
Daily SMA20 0.6464
Daily SMA50 0.6398
Daily SMA100 0.6402
Daily SMA200 0.6538
 
Levels
Previous Daily High 0.6604
Previous Daily Low 0.6522
Previous Weekly High 0.6576
Previous Weekly Low 0.6424
Previous Monthly High 0.6466
Previous Monthly Low 0.6321
Daily Fibonacci 38.2% 0.6573
Daily Fibonacci 61.8% 0.6553
Daily Pivot Point S1 0.6539
Daily Pivot Point S2 0.6489
Daily Pivot Point S3 0.6457
Daily Pivot Point R1 0.6621
Daily Pivot Point R2 0.6653
Daily Pivot Point R3 0.6703

 

 

 

 

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