OctaFX | OctaFX Forex Broker
Open trading account

NZD/USD spikes above 0.6780, retreats quickly on conflicting US-China trade conflict headlines

  • WSJ says US officials weighing the option o lift tariffs on Chinese imports.
  • A spokesman for the US Treasury denies the report's claims.
  • NZD/USD returns to negative territory after knee-jerk reaction.

The NZD/USD pair gained more than 40 pips in a matter of minutes after the Wall Street Journal reported that the U.S. officials were weighing the option to lift the tariffs on Chinese imports to calm the markets. However, with a spokesman for the U.S. Treasury denying these claims, the pair quickly erased a large part of its recent upsurge and was last seen trading at 0.6768, losing 0.17% on a daily basis.

 "Neither Secretary Mnuchin nor Ambassador Lighthizer have made any recommendations to anyone with respect to tariffs or other parts of the negotiation with China," the spokesman said to cap the kiwi's, which is sensitive to trade headlines surrounding the U.S. - China trade conflict, rally.

Meanwhile, the greenback showed a relatively muted reaction to these developments and the US Dollar Index stays in the positive territory above the 96 mark. In the next hour, investors will be looking for a fresh catalyst in the Business NZ's PMI report.

Key technical levels


    Today Last Price: 0.6768
    Today Daily change: -12 pips
    Today Daily change %: -0.177%
    Today Daily Open: 0.678
    Daily SMA20: 0.6745
    Daily SMA50: 0.6796
    Daily SMA100: 0.6686
    Daily SMA200: 0.6789
    Previous Daily High: 0.6832
    Previous Daily Low: 0.6755
    Previous Weekly High: 0.6845
    Previous Weekly Low: 0.6707
    Previous Monthly High: 0.697
    Previous Monthly Low: 0.6686
    Daily Fibonacci 38.2%: 0.6784
    Daily Fibonacci 61.8%: 0.6803
    Daily Pivot Point S1: 0.6746
    Daily Pivot Point S2: 0.6712
    Daily Pivot Point S3: 0.6669
    Daily Pivot Point R1: 0.6823
    Daily Pivot Point R2: 0.6866
    Daily Pivot Point R3: 0.69


USD/CAD erases gains on China tariffs story

The USD/CAD pair dropped from 1.3295 to 1.3247, approaching daily lows following a report from the WSJ mentioning that US officials were debating the
Read more Previous

AUD/USD jumps to 0.7220 as US dollar tumbles on US-China negotiation reports

The AUD/USD pair rose from below 0.7175 to 0.7220 in a few minutes, reaching the highest level in two days. The move to the upside took place followin
Read more Next
Start livechat