OctaFX | OctaFX Forex Broker
Open trading account
Back

Forex: NZD/USD unchanged at 0.85 ahead of US NFP

FXstreet.com (Barcelona) - NZD/USD is last at 0.8498, almost unchanged for the week so far and from previous Asia-Pacific open yesterday, while China and Japan will be closed today for holiday. The pair recovers from NY session fresh weekly lows at 0.8452, while keeps being capped below the 0.85 handle as NY session highs.

According to ANZ analysts the pair will trade in the near term inside the range of 0.8470/0.8580 with key risk event later on in the form of US NFP data at 12:30 GMT, that surely will add volatility to the pair. Today's Australia Q1 PPI at 01:30 GMT could also have an impact on the Kiwi and on AUD/NZD, that currently trades near multi year lows around the 1.20 figure.

Immediate support to the downside for NZD/USD lies at Wednesday's lows 0.8480, followed by Monday's lows/April 23 highs at 0.8464, and yesterday's weekly lows at 0.8453. To the upside, closest resistance shows at yesterday's highs 0.8513, followed by Tuesday's lows at 0.8537, and April 25 0.8564.

Commodities Brief: Oil regains most of previous losses, closes day +3.37%

The choppy trading across commodities continued today, as “risk assets” were back in play after the ECB Monetary Policy meeting earlier in the day. Apparently market participants viewed the ECB rate cut and further dovish rhetoric from the ECB as bullish for risk assets, which sent both stocks and commodities higher. Oil led the way in commodities, finishing up 3.37% at 94.07. The commodity was able regain of its losses from the previous two days, but still needs to build value and close above 95 to really set the stage for a leg higher. The precious metals markets also managed to join in, with gold finishing up 0.61% at 1466, and silver ending up 0.97% at 23.79.
Read more Previous

Forex: EUR/JPY finishes slightly lower after roller-coaster day

The EUR/JPY finished the day down 35 pips at 127.90. However, the intra-day price action was a different story with the pair trading as high as 129.90, and as low as 127.50. The initial catalyst which helped the pair shoot higher appeared be the ECB Rate announcement. However, the pair quickly reversed gains after Mario Draghi’s press conference which was quick to follow the initial announcement.
Read more Next
Start livechat