Confirming you are not from the U.S. or the Philippines

By giving this statement, I explicitly declare and confirm that:
  • I am not a U.S. citizen or resident
  • I am not a resident of the Philippines
  • I do not directly or indirectly own more than 10% of shares/voting rights/interest of the U.S. residents and/or do not control U.S. citizens or residents by other means
  • I am not under the direct or indirect ownership of more than 10% of shares/voting rights/interest and/or under the control of U.S. citizen or resident exercised by other means
  • I am not affiliated with U.S. citizens or residents in terms of Section 1504(a) of FATCA
  • I am aware of my liability for making a false declaration.
For the purposes of this statement, all U.S. dependent countries and territories are equalled to the main territory of the USA. I accept full responsibility for the accuracy of this declaration and commit to personally address and resolve any claims or issues that may arise from a breach of this statement.
We are dedicated to your privacy and the security of your personal information. We only collect emails to provide special offers and important information about our products and services. By submitting your email address, you agree to receive such letters from us. If you want to unsubscribe or have any questions or concerns, write to our Customer Support.
Octa trading broker
Open trading account
Back

NZD/USD struggles for direction, holds steady above mid-0.7100s

  • NZD/USD met with some fresh supply on the first day of a new trading week.
  • A subdued USD demand, the risk-on mood helped limit losses for the major.
  • Monday’s US ISM PMI and Powell’s speech eyed for some trading impetus.

The NZD/USD pair remained on the defensive through the early European session and was last seen hovering near daily lows, just above mid-0.7100s.

The pair struggled to capitalize on its modest bullish gap opening on the first day of a new trading week, instead met with some fresh supply near the 0.7185 region. Bears might now be looking to extend last week's sharp retracement slide from the highest level since early March, though a combination of factors helped limit the downside, at least for now.

The US dollar struggled to capitalize on last week's goodish rebound from the lowest level since February 26 amid expectations that the Fed will keep interest rates low for a longer period. This, along with the prevalent risk-on mood around the equity markets, further undermined the safe-haven USD and extended some support to the perceived riskier kiwi.

Hence, it will be prudent to wait for some strong follow-through selling below Friday's swing lows, around mid-0.7100s, before positioning for any further depreciating move. Market participants now look forward to the release of the US ISM Manufacturing PMI. This, along with the Fed Chair Jerome Powell's scheduled speech will provide a fresh impetus to the NZD/USD pair.

Technical levels to watch

 

AUD/USD to extend its consolidative phase with risk skewing to the upside

The AUD/USD pair has continued to consolidate gains, spending a second consecutive week above the 0.7700 level but unable to break through the 0.7800
Read more Previous

EU proposes to ease restrictions on non-essential travel for those who have been vaccinated

The European Commission proposed that Member States ease the current restrictions on non-essential travel into the block for those who have been vacci
Read more Next