Join our community of traders FOR FREE!

  • Learn
  • Improve yourself
  • Get Rewards
Learn More

New Zealand dollar retreated against its US counterpart on Monday, as market participants remained wary ahead of the US retail sales report, scheduled for release on Tuesday amid the continuing lack of clarity over the future of Federal Reserve Banks stimulus.

NZD/USD hit its lowest point for todays trade at 0.7991 at 7:52 GMT, after which consolidation followed at 0.8006. Support was expected at August 8th low, 0.7934, while resistance was to be met at July 29th high, 0.8099.

The greenback showed weakness against most of its major peers last week, following the disappointing non-farm payrolls report on August 2nd, which stated economy added fewer than anticipated job positions during July. This made market players reassess their expectations, regarding the timing of Fed’s bond purchase pare back.

The United States was to release a report on retail sales on Tuesday, followed by statements by Federal Reserve Bank officials later in the week.

Elsewhere, the kiwi dollar was slightly lower against the Australian currency, as AUD/NZD pair added 0.08% to trade at 1.1445.

TradingPedia.com is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover Forex, Price Action and Social Trading.

Related News

  • Forex Market: NOK/SEK daily forecastForex Market: NOK/SEK daily forecast During Friday’s trading session NOK/SEK traded within the range of 1.1076-1.1233 and closed at 1.1150.At 6:47 GMT today NOK/SEK was gaining 0.05% for the day to trade at 1.1156. The pair touched a daily high at 1.1157 at 6:46 […]
  • Forex Market: GBP/USD trades not far from an over 11-month low ahead of BoE’s Broadbent statementForex Market: GBP/USD trades not far from an over 11-month low ahead of BoE’s Broadbent statement GBP/USD was a notch stronger at the start of the new week, but still remained in the area not far from last week's over 11-month low of 1.3194, as market players were expecting a statement on monetary policy and economic growth from Bank […]
  • Forex Market: GBP/USD daily trading outlookForex Market: GBP/USD daily trading outlook Yesterday’s trade saw GBP/USD within the range of 1.5365 - 1.5219. The pair closed 0.57% higher at 1.5350.At 07:24 GMT today GBP/USD was down 0.30% for the day to trade at 1.5303. The cross held in a daily range between 1.5297 and 1.5375 […]
  • Copper advances on China inflation data, record high importsCopper advances on China inflation data, record high imports Copper advanced in early European trading on Monday after Chinas National Bureau of Statistics reported that the Asian countrys consumer inflation advanced in September above analysts expectations, while producer inflation declined less than […]
  • USD/CAD edges higher, trading close to two-month highs on Fed speculationUSD/CAD edges higher, trading close to two-month highs on Fed speculation US dollar edged up against its Canadian counterpart and traded in proximity to two-month highs on Tuesday, as speculation continued to persist that recent strong data, released out of the United States, may prompt the Federal Reserve Bank to […]
  • Forex Market: GBP/BGN trading outlook for April 25thForex Market: GBP/BGN trading outlook for April 25th Friday’s trade saw GBP/BGN within the range of 2.4741-2.5145. The pair closed at 2.5103, surging 1.14% on a daily basis. It has been the 14th gain in the past 22 trading days and also the sharpest one since October 22nd 2015, when the pair […]