The RBNZ decided to keep interest rates unchanged at 2.50%, much to the disappointment of Kiwi bulls expecting to see policy tightening. The pair sold off after the event but might be due to find support at the bottom of its 4-hour range.
USD
The US dollar fought back against its major currency counterparts in recent trading, taking EUR/USD down to the 1.3650 area and USD/JPY up to the 103.00 mark.
USD/CHF seems to be on the start of an uptrend on its 1-hour time frame, as a rising channel is beginning to form. The pair just found support at the bottom near the .8950 minor psychological level and might be on its way to test the top.
USD
The US dollar lost a bit of ground to its major counterparts, most notably the Australian dollar and the Japanese yen, as data from the economy came in weaker than expected.
AUD/JPY recently made a sharp selloff on global growth concerns and risk aversion but the pair seems ready to make a quick retracement. On the 4-hour time frame, the 61.8% Fibonacci retracement level of the latest swing high and low lines up with the former support area above the 91.00 major psychological level.
USD
The US dollar packed in the gains against the British pound and Australian dollar on Friday, as these currencies were hit hardest after the Davos World Economic Forum.
AUD/USD suffered a sharp selloff towards the end of last week, when the world economic leaders in Davos confirmed that a slowdown is in the cards for the emerging nations. It didn’t help that China also printed a weaker than expected HSBC manufacturing PMI reading.
USD
The US dollar lost its shine in yesterday’s trading since economic data printed mostly disappointing results.
GBP/JPY has made a stellar rally in the past few trading days, thanks to improved fundamentals in the UK. However, yesterday’s yen strength triggered a sharp selloff, which could simply be a retracement for this pair.
USD
The US dollar had a mixed performance in yesterday’s trading, as it consolidated to the euro, lost ground to the pound, then strengthened against the comdolls.