NZD/USD FORECAST AND NEWS
NZD/USD Price Forecast: Falls toward 0.5950 within the descending channel
NZD/USD continues to depreciate within the descending channel pattern, suggesting a bearish bias. A drop in the 14-day RSI to the 30 level would indicate an oversold condition, potentially signaling an upcoming upward correction. The immediate barrier appears at the lower boundary of the descending channel near the 0.5940 level.
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EUR/USD finds demand above 1.0800 ahead of key US data
EUR/USD is finding fresh demand above 1.0800 in European trading on Tuesday. A minor improvement in the market mood offsets a pause in the US Dollar correction, offering support to the pair ahead of top-tier US economic data releases.
GBP/USD regains traction toward 1.3000 as risk sentiment improves
GBP/USD has regained upside traction, nearing 1.3000 in the European session on Tuesday. A positive shift in risk sentiment helps the pair recover ground amid bets for smaller Fed rate cuts, which checks the US Dollar correction ahead of key US jobs data and corporate earnings results.
Japanese Yen weakens below 153.00 against USD, remains close to multi-month low
The Japanese Yen surrenders modest intraday gains amid the BoJ rate-hike uncertainty. An unexpected dip in Japan’s jobless rate and intervention fears might limit JPY losses. Traders now await the BoJ and important US macro data before placing directional bets.
Gold price consolidates near record high, holds above $2,750 ahead of US macro data
Gold price maintains its bid tone through the early part of the European session on Tuesday and currently trades just above the $2,750 level, within the striking distance of the all-time peak touched last week.
WTI remains subdued around $67.50, pares losses as US plans for SPR purchases
WTI price recovers some of its daily losses as the US plans to purchase Oil for its Strategic Petroleum Reserve. The US announced to acquisition of up to 3 million barrels for delivery by May next year. Oil prices declined as limited military actions reduced concerns over a potential full-scale conflict in the Middle East.
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Influential Institutions & People for the NZD/USD
The Reserve Bank of New Zealand (RBNZ)
The Reserve Bank of New Zealand is New Zealand's central bank. Like most central banks, the Reserve Bank is primarily a policy organisation, and exists to do three main things: formulate and implement monetary policy to maintain price stability, promote the maintenance of a sound and efficient financial system and meet the currency needs of the public.
The official website, on Twitter and YouTube
On the other
FED Official Website, on Twitter and Facebook
Adrian Orr
Governor of the Reserve Bank of New Zealand since March 2018. He is New Zealand born and bred, married to a novelist and they have 3 adult children. Adrian is a 1983 undergraduate of the University of Waikato (New Zealand) and a 1985 Masters graduate (with Distinction) from the University of Leicester (England). Following his Masters, Adrian remained in the United Kingdom for three years working as a Research Associate and tutor at the City University Business School, in London. Adrian returned to New Zealand in 1988 to take up the position of Research Economist at the New Zealand Institute of Economic Research before joining the Economics team at the National Bank of New Zealand the following year. In 1992 Adrian moved to France to work as an economist at the Organisation for Economic Cooperation and Development (OECD). After holding this role for three years, Adrian returned to New Zealand and worked for a short time as a Chief Analyst at The Treasury, before returning to the National Bank as Chief Economist. Adrian was appointed Chief Manager of the economics team at the Reserve Bank of New Zealand in 1997, providing core economic and policy advice to the Governor.
Jerome Powell
Jerome H. Powell took office as Chairman of the Board of Governors of the Federal Reserve System on February 5, 2018, for a four-year term. Mr. Powell also serves as Chairman of the Federal Open Market Committee, the System's principal monetary policymaking body. Mr. Powell has served as a member of the Board of Governors since taking office on May 25, 2012, to fill an unexpired term. He was reappointed to the Board and sworn in on June 16, 2014, for a term ending January 31, 2028. Prior to his appointment to the Board, Mr. Powell was a visiting scholar at the Bipartisan Policy Center in Washington, D.C., where he focused on federal and state fiscal issues. From 1997 through 2005, Mr. Powell was a partner at The Carlyle Group. Mr. Powell served as an Assistant Secretary and as Undersecretary of the Treasury under President George H.W. Bush, with responsibility for policy on financial institutions, the Treasury debt market, and related areas. Prior to joining the Administration, he worked as a lawyer and investment banker in New York City. Mr. Powell was born in February 1953 in Washington, D.C.