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FXP:NZDUSD, Aug 24, 12:01 UTC

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Thursday, August 22


News

The Currency Pairs to Watch Prior to FOMC Minutes and Jackson Hole

NZDUSD USDCHF

The Currency Pairs to Watch Prior to FOMC Minutes and Jackson Hole. EUR/USD – Consolidation About to End Soon? Although EUR/USD moved a bit higher yesterday, the overall short term situation hasn’t changed much. (…) The exchange rate is still trading inside the blue consolidation between the green support zone and the orange resistance area reinforced by the 50% Fibonacci retracement. As long as there is no breakout above these nearest resistances, another bigger move is questionable. Opinions and analyses were based on data available to authors of respective essays at the time of writing. Although the information provided above is based on careful research and sources that are believed to be accurate, Przemyslaw Radomski, CFA and his associates do not guarantee the accuracy or thoroughness of the data or information reported.

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Wednesday, August 21


News

Federal Reserve Board - Minutes of the Federal Open Market Committee, July 30-31, 2019

NZDUSD USDCHF

Back to HomeBoard of Governors of the Federal Reserve System. The Federal Reserve Board and the Federal Open Market Committee on Wednesday released the attached minutes of the Committee meeting held on July 30-31, 2019. The minutes for each regularly scheduled meeting of the Committee ordinarily are made available three weeks after the day of the policy decision and subsequently are published in the Board's Annual Report. The descriptions of economic and financial conditions contained in these minutes are based solely on the information that was available to the Committee at the time of the meeting.

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News

AUD/USD inches higher toward 0.68 as attention shifts to FOMC minutes

NZDUSD USDCHF

AUD/USD inches higher toward 0.68 as attention shifts to FOMC minutes By Eren Sengezer | August 21, 2019 04:05 GMT. After closing the previous day with a modest 20-pip gain, the AUD/USD pair edged higher on Wednesday but still continues to in its tight two-week-old trading range, preserving its near-term neutral outlook. As of writing, the pair was up 0.25% on the day at 0.6793. Commenting on the US-China trade dispute earlier today, Reserve Bank of Australia (RBA) Governor Philip Lowe said the escalating trade war was 'very worrying' and that it was hurting the global investment, wages and economic growth. On the other hand, the lack of high-tier macroeconomic data releases from the US forces the US Dollar Index to move sideways near its opening level of 98.15 as investors refrain from making any bets before the FOMC releases the minutes of its August meeting later in the session.

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News

Consolidation Building Across Majors Ahead Of FOMC Minutes

NZDUSD USDCHF

There is a consolidation on Treasury yields, whilst on the technicals there are consolidation patterns forming on major markets such as EUR/USD, Gold, USD/JPY and Cable. The ball is now with PM Boris Johnson again, but this just stokes the fire of intraday volatility on sterling once more. For now there seems to be little market reaction for the euro despite another deterioration in stability for Italian politics as Prime Minister Conte has resigned which increases the potential for further elections. Whilst there is still a marginal improvement to momentum indicators (Stochastics ticking higher and MACD lines still threatening to cross higher) this remains a market stuck under resistance and the bulls are lacking conviction. There is an uptick on momentum, with Stochastics and MACD lines especially higher. However, indicators retain their negative configuration which suggests that rallies will struggle to sustain traction. If this is the case and resistance $56.50 holds with another lower high under $57.50 then the bears will regain control.

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News

New Zealand Credit Card Spending Drops In July

EURNZD NZDUSD

New Zealand’s credit card spending declined in July, figures from Reserve Bank of New Zealand showed on Wednesday. Credit card spending fell to 1.8 percent month-on-month in July, reversing a 1.5 percent increase in June. Domestic billing dropped 2.0 percent monthly to NZ$3.55 billion and overseas billings fell by 2.5 percent to NZ$655 million. On a year-on-year basis, overall credit card spending grew to 5.0 percent in July, but slower than 6.6 percent growth logged in the previous month.

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Tuesday, August 20


News

UPDATE 3-ANZ may need to ring-fence New Zealand profits after overseas exposure curb

NAB EURNZD +2 more NAB EURNZD NZDUSD ANZ

ANZ, Australia's No.4 lender by market value, sources over a fifth of its profits from New Zealand, where it is the largest lender, benefiting from dividend distributions to the parent worth almost all of the unit's profits. Its capital exposure to the unit is currently "approaching" APRA's revised limit, analysts said. "ANZ NZ may be required to retain a higher proportion of its earnings to meet any potential increased capital requirements and any future capital required in New Zealand may also need to be held at a Group level," it said in the statement. Commonwealth Bank of Australia said there was "sufficient capacity" under the regulator's lower limits to accommodate its foreign exposures, including taking into account the additional capital requirement for New Zealand banks.

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Sunday, August 18


News

Forex today: Dollar hold onto the 98 handle ahead of FOMC minutes/Jackson Hole

NZDUSD USDCHF

News. Forex today: Dollar holds onto the 98 handle ahead of FOMC minutes/Jackson Hole By Ross J Burland | August 18, 2019 11:51 GMT. Forex markets were seeing a better risk tone and the Dollar firmed. On a light data calendar, forex on Friday was reacting to a slightly better risk tone with a correction in stocks as the reports of a surplus balance Germany that could loosen fiscal policy made for a knee-jerk relief in markets. As for data, the US July housing starts and permits were mixed while the University of Michigan consumer sentiment in August was softer than expected, although inflation expectations lifted a touch. US 2-year Treasury yields ranged between 1.48% and 1.52%, closing at 1.48%, while the 10-year yield climbed from 1.52% to 1.55%. Trump will make a decision on whether to allow companies to restart business with Huawei in certain products and Eurozone July Consumer Price Index could well confirm annual core inflation of 0.9% for the year. As for central banks, markets will await the Reserve Bank of Australia's August minutes tomorrow and then the Federal Open Market Committee Minutes (21 Aug) and Jackson Hole Sym.

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Friday, August 09


News

Currency whirlpool sucks in Australia, New Zealand as global trade war rages

EURNZD NZDUSD +2 more EURNZD NZDUSD GBPAUD AUDUSD

SYDNEY (Reuters) - Central banks in Asia, Australia and New Zealand have joined a brewing global currency war by slashing interest rates and pledging to keep them down, worrying markets over the risk of a chase to the bottom. The Sino-U.S. trade war has complicated matters further by raising fears of a world recession, prompting financial markets to price in aggressive easing by the U.S. Federal Reserve. On Friday, Australia's central bank chief acknowledged that major reason for cutting interest rates was to weaken its currency. Financial markets expect the European Central Bank to cut rates at its September meeting and to restart quantitative easing while the U.S. Federal Reserve too is seen cutting three more times over 2020 after a 25 bps "insurance" cut last month.

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News

Aussie, New Zealand dollars seen defying gravity, even as gravity wins out - Reuters poll

EURNZD NZDUSD

SYDNEY (Reuters) - Analysts still maintain a remarkably sanguine outlook for the Australian and New Zealand dollars in the latest Reuters poll, even as both carve out multi-year lows amid escalating trade wars and collapsing bond yields. The median one-month forecast for the Aussie was trimmed a cent to $0.6800 <AUD=D3>, but it was still seen at $0.7000 in six months and $0.7200 on a one-year horizon. Fears that the protracted Sino-U.S. trade dispute will tip the world toward recession has seen markets wager the Reserve Bank of Australia (RBA) will have to cut rates at least twice more to 0.5%, and perhaps adopt quantitative easing. As a result, yields on 10-year bonds <AU10YT=RR> broke under 1% for the first time ever this week, upending the Aussie's traditional status as a high-yielding currency.-. "These latest trade developments are a game changer for our AUD and NZD views," said Ray Attrill, head of FX strategy at National Australia Bank, noting the Aussie has tended to move in lockstep with the yuan in recent weeks.

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Wednesday, August 07


News

New Zealand interest rates slashed to record low - CNA

EURNZD NZDUSD

WELLINGTON: New Zealand's central bank slashed interest rates to a record low of 1 per cent Wednesday (Aug 7), warning that the economy faced rising headwinds. The surprise cut in the Official Cash Rate (OCR) to 1 percent from a previous low of 1.5 percent set in May had an immediate impact on the housing market with mortgage rates falling while the New Zealand dollar dropped to US64.35 cents. The Reserve Bank of New Zealand said employment was close to its maximum sustainable level, inflation was below the 2 percent mid-point of the target range and "growth headwinds are rising". New Zealand's four major banks immediately lowered home loan and saving rates. ASB Bank reduced its floating mortgage rate by half-a-percent and forecast a further cut in the official cash rate by 25 basis points later in the year.Source: AFP/jt.

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