6/10/2021
Hard moves on the kiwi this morning as the US dollar sinks on inflation news. This currency seems to be reacting hard to the US markets as it moves 0.50% in a single candle. Strength in the kiwi could also be rising as inflation remains much lower than the majority of other currencies.
NU pair is up 0.27% today after investors begin to fear the rise in inflation on the USD that grew 5% from one year ago. Price has already tested the supportive trendline and is climbing back up. The past two days might have been the anticipation of good inflation news, so traders were selling the rumor on this pair, but now, it looks like investors have a reason to buy.
NJ was one of the hardest movers today as price broke out of a downtrend line on the 4H chart. The pair found a bottom around 78.581, but it looks to be resting on that trend line that broke. Mild resistance looks like the 79.137, with heavier resistance at 79.241.
Euro kiwi falling by 0.32% on the day which makes it the most volatile pair as of now as price hits 1.69101. A supportive trendline lies right below current price which the pair will likely test. ECB monetary policy statements are happening now which is most likely the cause of all this volatility on this pair today.
Today's economic figures came out in US and Canada. GDP came in higher than expected in Canada while the price of goods purchased by consumers was lower than last month. Here are some pullback ideas for USD and CAD from GDP and PCE numbers. EdgeFinder Analysis NAS100 is a bullish reading on the EdgeFinder still. […]
This week has brought more inflation data with it regarding the USD's PCE and PMI numbers. Powell is also set to speak this Friday about monetary policy going forward. The RBNZ will also release their latest interest rate news tomorrow with expectations of an unchanged rate at 5.5%. EdgeFinder Analysis GBPUSD is a bullish bias […]
This week is a big PMI week for Europe, UK and US. Additional inflationary metrics will add to the overall sentiment of these countries' monetary policies going forward. Here are some setups for the coming week on these currencies. EdgeFinder Analysis GBPCAD is now a +7 on the EdgeFinder as we wait for CPI news […]
