NZD/USD Live News

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NZD/USD

Dec. 1, 2023

Bullish currency pair the New-Zealand Dollar runs out of steam at 0.621; currently at 0.6208

Live - Updated 29 minutes ago.

Tentatively higher from an earlier low of 0.6148, the New-Zealand Dollar is up to 0.6208 today, adding 50 pips, or 0.83%, to yesterday's closing price of 0.6157.

On the flip side, United States Pending Home Sales released yesterday at 15:00 UTC is better than expected at -1.5% but down from preceding data of 1% according to new data.

At the same time, United States ISM Manufacturing Prices (Nov) released today at 15:00 UTC with a figure of 49.9, while the previous figure was 45.1. United States ISM Manufacturing PMI (Nov) came out at 46.7, while a consensus of analysts was expecting 47.6.

Trend analysis indicates that the Commodity Channel Index (CCI) indicator is above +100, meaning the market price is unusually high compared to the rolling average. According to momentum evaluation, according to technical analysis of the Kiwi's Relative Strength Index (RSI), the market is currently overbought. Analysis based on the asset volatility indicates that the Kiwi's upper Bollinger Band® is at 0.621, this is a slight indication of a slowdown. Following today's trading session, chart analysis suggests the New-Zealand Dollar broke through the 0.6194 resistance and climbed above it 13 pips; next resistance level is at 0.6233.

Overall, while the New-Zealand Dollar has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.

While the Kiwi is up today, these currencies are lagging behind: EUR/NZD drops 0.91% to trade around 1.7525. EUR/AUD dips 1.11% to trade around 1.63. EUR/JPY is down to 159.75, losing 154 pips, after closing at 161.3 in the preceding trading session.

The currency pair has been trending positively for about a month. The past 3 months have been positive for the New-Zealand Dollar as it added 121.61% compared to its 3-month low of 0.58.

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Week to date

Stalemate for the New-Zealand Dollar bulls and bears .

A good end to the trading week, NZD/USD is up to 0.6208, after closing yesterday at zero. Overall, a 0% move or 6,207 pips this week. (Trade the Kiwi with FXTM now).

On the flip side, data for United States Pending Home Sales released yesterday at 15:00 UTC is better than expected with -1.5%, but worse than previous figure of 1%. United States Initial Jobless Claims released yesterday at 13:30 UTC is better than expected at 218,000 but down from preceding data of 211,000 according to new data.

Meanwhile, New Zealand Interest Rate came out at 5.5, while a consensus of analysts was expecting 5.5. United States ISM Manufacturing Prices (Nov) released today at 15:00 UTC with a figure of 49.9, while the previous figure was 45.1. United States ISM Manufacturing PMI (Nov) came out at 46.7.

The market is looking forward to the release of new data: United States Nonfarm Payrolls (Nov) will be released Friday. United States Services PMI figure is projected at 50.8. It previously stood at 50.6; data will be released Tuesday. United States ISM Non-Manufacturing PMI (Nov) is expected Tuesday.

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