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3 Feb 2022

NZD/USD struggles justify options market optimism ahead of key central bank events

One-month risk reversal (RR) of NZD/USD, a gauge of calls to puts, braces for the biggest weekly upside in six weeks, also snapping the two-week downtrend while flashing +0.2000 figures for the current week, per the data source Reuters.

Even so, NZD/USD prices fade the recent bounce off intraday low, not to forget keeping the previous day’s pullback from the weekly top, down 0.05% intraday around 0.6635.

Technically, NZD/USD prices step back from a confluence of the 10-DMA and a downward sloping trend line from January 13, around 0.6635-40 at the latest.

The pullback moves join bearish MACD signals to suggest further grinding towards the south.

However, a weekly support line near 0.6600 restricts the quote’s immediate downside.

On a broader front, global markets turn cautious ahead of the monetary policy meetings of the European Central Bank (ECB) and Bank of England (BOE).

NZD/USD: Dialy chart

Trend: Further weakness expected

 

Feb 3, 2022

USD/INR Price News: Indian rupee weakness remains elusive below 75.00

USD/INR struggles around 74.80 during the third positive day amid early European morning on Thursday. In doing so, the Indian rupee (INR) pair justifi
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Feb 3, 2022

GBP/USD traders get set for the Bank of England

It is a big day for sterling traders with the Bank of England that is expected to lift rates by another 25bps to 0.50% in order to combat ongoing infl
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