SMA cross injuring EUR/NOK

The bearish offensive in EUR/NOK has resulted in a cross of the 50-period below the 200-period SMA.The signal emerged on 4-hour charts further deteriorating the near-term EUR/NOK price structure. While conservative sellers will wait for a close below recent support as a confirmation of ...

New Zealand Imports fell from previous $4.31B to $4.17B in April

New Zealand Trade Balance (MoM) above expectations ($268M) in April: Actual ($578M)

New Zealand Trade Balance (YoY): $-3.48B (April) vs $-3.67B

New Zealand Exports rose from previous $4.65B to $4.75B in April

New Zealand Trade Balance (MoM) came in at $572M, above expectations ($268M) in April

AUD/NZD: 1.0610 in sights – Westpac

Analysts at Westpac offered an outlook for the antipodean cross and rates as follows ... Key Quotes: "AUD/NZD 1 day: Broke below minor support at 1.0700, the next technical target being 1.0610. Helping NZD outperformance is the looming NZ Budget which is expected to be stimulatory as well a ...

New Zealand’s trade balance 578M vs. 267M forecast

New Zealand’s trade balance rose unexpectedly last month, data showed on Tuesday.In a report, Statistics New Zealand said that the trade balance rose to a seasonally adjusted 578M, from 277M in the preceding month whose figure was revised down from 332M.Analysts had expected the trade balance to ...

Eyes on Aussie data in resepct of Q1 GDP – ANZ

Analysts at ANZ explained that ahead of Australia’s Q1 GDP data release on June 7, the partials are starting to come in.  Key Quotes: "Today we get Q1 construction data, with ANZ expecting a rise of 0.3% q/q, above market expectations of a - 0.5% q/q fall. The increase is expecte ...

EUR/USD: steady ahead of a key support at 1.1161

Currently, EUR/USD is trading at 1.1184, up 0.01% on the day, having posted a daily high at 1.1187 and low at 1.1180. EUR/USD has been consolidating the downside with a resurgence of the dollar. The question is how much further can the dollar rise in an environment that is supportive of a highe ...

Market wrap: US dollar stabilised – Westpac

Analysts at Westpac offered a market wrap. Key Quotes: "Global market sentiment: Equity markets firmed slightly, the US dollar stabilised, and US interest rates rose. European growth and survey data was strong, and US Administration officials signalled fiscal stimulus. Interes ...

GBP/USD slips to fresh session lows on May comments

After spending the last couple of hours consolidating its daily losses around 1.2970 handle, the GBP/USD came under a renewed selling pressure following the recent comments from UK Prime Minister Theresa May and refreshed its session low at 1.2957. As of writing, the pair was trading a ...

Fed’s Harker reiterates his support for two more rate hikes in 2017

Philadelphia Fed's President Patrick Harker was on the wires, via Reuters, repeating that he sees two more rate hikes this year.  More headlines (via Reuters): Fed could 'intervene' as U.S. bond portfolio shrinks Repeats support for shedding bonds this year

Wall Street advances on 2018 budget plan

U.S. stocks rose on Tuesday after the release of President Donald Trump's budget plan but gave back portion of their daily gains towards the end of the day. Despite the late retracement, all the major equity indexes closed the day higher. Forex today: DXY gallops on Trump's budge ...