22 Aug 2013
NZD/USD moves away from lows
FXstreet.com (Barcelona) - NZD/USD has printed a low of 0.7803 in European markets and remains offered into the NA opening.
On the calendar for today, in the US, the weekly initial unemployment claims is in focus. The results came out in initial jobless claims at 336K vs consensus 322k, so a slightly disappointing number which takes the pair slightly higher away from the figure and towards 0.7830. The annual Jackson Hole conference for central bankers also starts today. However, there No prominent Fed speakers that are scheduled, so there shouldn’t be any new insight into Fed's monetary policy thinking. The FOMC minutes are the theme of the markets today and these read a little more hawkish than expected, supporting the impression that September remains a likely starting point for reducing asset purchases. Policymakers in the Asia pacific are also working in the same direction as the FOMC, and doubling-up the downward pressure on the NZD.
NZD/USD finds some bids
The NZD/USD is continuing to look heavy and the 20 DMA is .7985, the 50 DMA is .7908 and the 200 DMA is .8210. RSI (9) reads 35.97. Supports are ascending from .7670, .7737, .7787, .7803. Spot is currently .7827 while resistances are .7940, .7953, .7982.
On the calendar for today, in the US, the weekly initial unemployment claims is in focus. The results came out in initial jobless claims at 336K vs consensus 322k, so a slightly disappointing number which takes the pair slightly higher away from the figure and towards 0.7830. The annual Jackson Hole conference for central bankers also starts today. However, there No prominent Fed speakers that are scheduled, so there shouldn’t be any new insight into Fed's monetary policy thinking. The FOMC minutes are the theme of the markets today and these read a little more hawkish than expected, supporting the impression that September remains a likely starting point for reducing asset purchases. Policymakers in the Asia pacific are also working in the same direction as the FOMC, and doubling-up the downward pressure on the NZD.
NZD/USD finds some bids
The NZD/USD is continuing to look heavy and the 20 DMA is .7985, the 50 DMA is .7908 and the 200 DMA is .8210. RSI (9) reads 35.97. Supports are ascending from .7670, .7737, .7787, .7803. Spot is currently .7827 while resistances are .7940, .7953, .7982.