OctaFX | OctaFX Forex Broker
Open trading account
Back

Forex: NZD/USD achieves highest daily close since August 2011

FXstreet.com (Barcelona) - The NZD/USD closed the New York session 57 pips higher at .8579. The Kiwi achieved its highest daily close since August 2011, and is already up an impressive 2.56% for the month of April. “There is a non-stop flood of foreign money into the New Zealand property market. On top of that, the yields in New Zealand beat anything out there,” noted Adam Button of Forex Live.

Economic data out of New Zealand is light in the coming session, with the only report being Business NZ PMI at 22:30 GMT. Many market participants will likely be focused upon the Australian Employment Data (-50.0 forecast) due out at 1:30GMT, and its effect on both currencies. The Aussie Dollar also put in a strong showing during the New York session, closing up 53 pips at 1.0541 (highest level since Jan 2013).

The FXStreet.com Trend Index remains slightly bullish on the 1 hour chart, with the OB/OS Index reading Overbought. The daily close above previous resistance at 0.8534 (Feb 15th high) is constructive and puts the next major resistance near 0.8600 (psychological level). Further resistance is at 0.8680 (July 2011 high). Initial support comes in at .8567 (9day MA on 1 hour chart), followed by 0.8552 (20day MA on 1 hour chart).

Commodities Brief: Gold lower on Cyprus plan

Gold today closed down today in NY at $1558 losing -1.64% at the same time equity indexes printed yet another record highs with Dow Jones industrials above the never seen before 14800 points up +0.88%, and SP500 at 1587 up +1.22%, while US 10 year notes kept on selling off to fresh 5-day lows, with yields at 1.84%, off fresh 2013 lows at 1.67%.
Read more Previous

New Zealand Mar Business NZ PMI declines to 53.4 vs 56

Read more Next
Start livechat