The New Zealand dollar steadied after the Q1 jobless rate met expectations. The break below January’s lows at 0.6540 sent the kiwi into a free fall. On the daily chart, a bearish MA cross exacerbated the downward pressure, though the RSI’s incursion into the oversold area may temper the bearish drive. A rebound to 0.6540 […]
The post NZD/USD Becomes Overextended appeared first on Action Forex.
China’s exports surged 8.1% yoy to USD 315.7B in April, far exceeding expectations of 1.9% yoy. However, the headline strength masks key shifts in trading patterns. Exports to the US tumbled by -21% yoy, a Read more…
Japan’s wage data for March showed a softening trend. Nominal total cash earnings rose 2.1% yoy, below expectations of 2.4% yoy and down from February’s 2.7% yoy. This marked the 39th consecutive month of nominal Read more…
Key insights from the week that was. In Australia, the latest instalment of the household spending indicator, which covers around 60% of the consumer basket, provided another soft read on the consumer spending pulse. The Read more…