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.
Cancel Confirm
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.
Confirm
Octa trading broker Sign up Log in
Octa trading broker
Open trading account
Trading news
Back
10 Jan 2024

NZD/USD Price Analysis: Trades sideways around 0.6240 as focus shifts to US Inflation

  • NZD/USD consolidates around 0.6240 as investors await the US CPI data for December.
  • US core CPI is seen softening to 3.8% from 4.0% in November.
  • The Kiwi asset oscillates in a symmetrical triangle, indicating a sideways move ahead.

The NZD/USD pair struggles for a direction as investors await the United States Consumer Price Index (CPI) data for December, which is scheduled for Thursday. The Kiwi asset trades back-and-forth around 0.6240 amid hopes that the release of the US inflation data will provide fresh cues about the likely monetary policy action by the Federal Reserve (Fed) for January’s monetary policy meeting.

Sell-off in the S&P500 futures has extended, indicating further decline in the risk-appetite of the market participants. The US Dollar Index (DXY) consolidates near 102.50 as investors shift focus towards the inflation data for December.

As per the estimates, the US headline inflation grew by 0.2% against 0.1% increase in November. The core CPI that excludes volatile food and oil prices grew steadily by 0.3%. The annual underlying inflation decelerated to 3.8% against the former reading of 4.0%.

NZD/USD trades in a Symmetrical Triangle chart pattern on an hourly scale, which indicates a sharp contraction in volatility. Downward-sloping trend of the aforementioned chart pattern is plotted from January 4 high at 0.6286 while the advancing trendline is placed from January 8 low at 0.6212. The 20-period Exponential Moving Average (EMA) remains sticky to the Kiwi asset, indicating a consolidation ahead.

An upside move would appear if the asset breaks above January 5 high around 0.6280. This will drive asset towards January 2 high at 0.6335, followed by December 29 high at 0.6360.

In an alternate scenario, a breakdown below December 18 low near 0.6200 would expose the asset to 12 December 2023 high at 0.6170 and 8 December 2023 low near 0.6100.

NZD/USD hourly chart

 

Jan 10, 2024

EUR/USD should trade largely in line with global risk sentiment and US data – ING

EUR/USD edged lower on Tuesday. Economists at ING analyze the pair’s outlook.
Read more Previous
Jan 10, 2024

ECB’s de Guindos: Rapid pace of disinflation likely to slow down in 2024

During his scheduled appearance on Wednesday, European Central Bank (ECB) Vice President Luis de Guindos said that “the rapid pace of disinflation that we observed in 2023 is likely to slow down this year.” Additional takeaways Disinflation process to pause temporarily at the beginning of the year.
Read more Next