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.
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6/22/2021 The yen index is down -0.33% on the day and is extending its losses to the downside on weakness in the currency. The Fed's decision to raise rates sooner than we expected has caused US bonds to slip as well, sending yields closer to Japan's bond yields, thus decreasing appetite for the USD. JXY […]
Crypto Stumbles to Lows, EU Awaits PMI Data, SPX Flat6/22/2021 EUR/USD Analysis EU bounces off support and oscillates between support and resistance from 1.19100 and 1.18700. German and French PMI data will report tomorrow which could add extra volatility in the market. The US also has PMI news coming out that day, so we can […]