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NZDUSD benefits from an improved sentiment towards Antipodean currencies today

It will takes about:

31/08/2021

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Morning news

Last updates:

– US indices finished yesterday’s trading mixed. S&P 500 gained 0.43%, Nasdaq added 0.90%, Dow Jones moved 0.16% lower and Russell 2000 dropped 0.49% lower
– Stocks in Asia are trading mixed as well. Nikkei, Kospi and S&P/ASX 200 gained but indices from China moved lower
– DAX futures point to a higher opening of the European session
– Pentagon announced that the US troops completed withdrawal from the Afghanistan
– According to Politico report, some members of the US Congress do not want President Biden to re-appoint Powell for second term as Fed Chair
– Japanese industrial production dropped 1.5% MoM in July (exp. -2.5% MoM)
– Official Chinese manufacturing PMI dropped from 50.4 to 50.1 in August (exp. 50.2). Services PMI plunged from 53.3 to 47.5 (exp. 52.1)
– Australian private sector credit increased 0.7% MoM in July (exp. 0.5% MoM)
– Australian building approvals dropped 8.6% MoM in July (exp. -5.0% MoM)
– Australian net exports dropped 1% QoQ in Q2 2021
– Bitcoin trades near $47,000 mark
– Precious metals as well as the industrial metals trade higher. Oil pulls back slightly
– NZD and AUD are the best performing major currencies while USD and JPY lag the most
NZDUSD benefits from an improved sentiment towards Antipodean currencies today. The pair broke above the resistance zone in the 0.7000 area, marked with the upper limit of the market geometry. Pair is now approaching the next major resistance zone, ranging around 50% retracement of a downward move started in late-May.


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