|Day's Range||0.654 - 0.656|
|52 Week Range||0.5479 - 0.6790|
A failure to contain the spread of the virus could plunge the economies of the United States, Australia and New Zealand back into hibernation.
It’s a quiet day on the economic calendar. FED Chair Powell and BoE Governor Bailey are scheduled to speak. Expect Trump and COVID-19 to also influence.
Demand for risk will continue to set the tone. Risk sentiment will be lifted if scientists continue to make progress toward a coronavirus vaccine.
The direction of the NZD/USD on Friday is likely to be determined by trader reaction to Thursday’s low at .6551.
"The question is whether Fitch decides to be tough and downgrade Italy. We expect that it will remain on hold given that the ECB and EU are showing strong support for Italy through QE and the expected recovery fund," said Danske Bank.
It’s a relatively quiet day on the economic calendar. Expect the weekly jobless claims from the U.S, Brexit, and COVID-19 to draw attention.
A lack of economic data will leave the markets in the hands of COVID-19 updates and any chatter from China or the U.S…
First Monday in July started off positively with indices heading higher. Instead of focusing on what happened, let’s focus on what will probably happen next.
Risk appetite continues to support the majors. With the markets not expecting any shift from the RBA, geopolitics and COVID-19 remain curveballs.
As far as the AUD/USD and NZD/USD are concerned, the price action is disconnected from central bank activity.
The direction of the NZD/USD on Friday is likely to be determined by trader reaction to the minor 50% level at .6483.
The direction of the NZD/USD the rest of the session on Friday is likely to be determined by trader reaction to the pivot at .6483.
Progress towards a COVID-19 vaccine and positive EU and U.S stats provided support early on. U.S Nonfarm payrolls and jobless claims are in focus later.
There’s plenty to consider as we enter the 3rd quarter. Brexit, a labor market recovery, possible trade wars, and Trump are all there to influence…
In New Zealand, business confidence continues to improve as the economy returns to normal but still points to a recession according to an ANZ Survey.
It’s a busy day ahead, with economic data, talk of stimulus, geopolitics, and COVID-19 updates to provide the majors with direction.
The RBNZ said it expects the decline in annual GDP this year to be the largest in at least 160 years.