HomeForex MarketEach day Foreign exchange Information and Watchlist: EUR/NZD

Each day Foreign exchange Information and Watchlist: EUR/NZD

Can EUR lengthen its beneficial properties in opposition to NZD forward of New Zealand’s labor information launch?

I’m taking a look at EUR/NZD’s 1-hour chart for alternatives.

Earlier than transferring on, ICYMI, yesterday’s watchlist checked out EUR/GBP breaking beneath a Head and Shoulders sample after lower-tier experiences from the Eurozone missed estimates. Make sure to try if it’s nonetheless a legitimate play!

And now for the headlines that rocked the markets within the final buying and selling periods:

Recent Market Headlines & Financial Information:

US ISM manufacturing PMI falls to 55.4 in April vs. 57.6 anticipated

Canada’s manufacturing PMI slowed down from 58.9 to 56.2 in April

NZ new housing consents hits new report highs (50,858 models) in March

Japan and China’s markets out on financial institution vacation

RBA raises rates of interest by 25 foundation factors to 0.35%

RBA: it’s the “proper time” to start withdrawing pandemic-related assist

RBA famous larger wage progress, resilient financial system, and inflation choosing up “extra rapidly and to a better degree”

U.S. oil low, seen at $95, with out EU ban on Russia or Ukraine ceasefire

Eurozone’s PPI at 9:00 am GMT
Eurozone’s unemployment fee at 9:00 am GMT
U.S. manufacturing unit orders at 2:00 pm GMT
RBNZ’s monetary stability report at 9:00 pm GMT
AU AIG development index at 10:30 pm GMT
NZ quarterly employment at 10:45 pm GMT
NZ unemployment fee at 10:45 pm GMT

Use our new Forex Warmth Map to rapidly see a visible overview of the foreign exchange market’s value motion! 🔥 🗺️

What to Watch: EUR/NZD

EUR/NZD 1-hour Foreign exchange Chart

Aussie bulls made pips rain throughout the Asian session after the Reserve Financial institution of Australia (RBA) raised its rates of interest and hinted that it’s solely simply “starting” to withdraw its pandemic-related measures.

With no different central financial institution occasion within the subsequent 24 hours, focus might flip to lower-tier experiences and general danger sentiment.

Eurozone’s PPI and unemployment fee, for instance, may spotlight progress and inflation considerations within the area.

Ditto for New Zealand’s quarterly labor information numbers, which is predicted to point out regular employment beneficial properties and a barely decrease unemployment fee.

Decrease progress prospects within the Eurozone may result in 1.6350 holding as resistance for one more day. As you may see, the pair tried (and failed) to interrupt above the ascending triangle resistance a minimum of twice within the final two weeks.

In the meantime, constructive headlines or improved danger sentiment within the Eurozone may bust EUR/NZD from its triangle resistance.

Simply ensure that to verify a breakout so that you don’t get caught buying and selling a fakeout!

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