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14 May 2015
Retail-sale splurge bolsters Kiwi, US PPI, jobless claims - Next Up
FXStreet (Mumbai) - Surprisingly stronger-than expected NZ retail sales figures drove the Kiwi higher, emerging as the strongest in Asia for the second straight session. AUD/USD eased-off multi-month highs at 0.8164 weighed by tumbling iron ore prices. While the dollar-yen pair remained supported above 119 handle, consolidating previous losses.
Key headlines in Asia
AUD/USD off multi-month highs, Dalian iron ore weighs
NZ retail sales beats expectations in Q1
NZ Business PMI eases in April, still expansionary
Dominating themes in Asia - centered on JPY, AUD, NZD
A data-thin Asian session, with NZ retail sales numbers driving the New Zealand dollar north across the board, extending its previous RBNZ-backed rally. New Zealand retail sales volumes rose a record 2.7% in the March quarter, Statistics New Zealand said on Thursday, coming in much stronger than the market forecast of a 1.6% rise.
The Aussie shed gains and retraced from fresh four month peak, dragged down by sliding iron-ore prices (down nearly 3%) on the Dalian exchange. While USD/JPY trades modestly flat with the upside restricted by 100-DMA and downside cushioned by 119 support. The major corrects heavy losses seen yesterday following downbeat US retail volumes data.
Heading into Europe - centered on EUR, GBP
Dust settles after yesterday’s busiest EUR calendar this week with the EUR and GBP riding higher near multi-month highs. By contrast, there is nothing much to report in the European session ahead as most European markets remain closed in observance of ‘Ascension Day’ holiday.
Later in the North American session, US PPI and weekly unemployment claims will be closely watched for further US dollar moves. Both the macro data will be report at 12.30GMT.
The Labor Department is expected to report that the number of Americans filing new claims for unemployment benefits rose to 275,000 for the week ended May 9, compared with a seasonally adjusted 265,000 for the week ended May 2. Also, the Labor Department releases its producer price index data for April, which is not expected to have changed from the 0.2% reported in March.
EUR, GBP Technicals
Valeria Bednarik, chief analyst at FXStreet explains,
EUR/USD: "In the 4 hours chart, the 20 SMA has provided intraday support around the mentioned daily low and now aims slightly higher, whilst the Momentum indicator heads strongly up above 100 and the RSI indicator hovers around 67, all of which suggest some consolidation ahead, before a break higher, eyeing a continued advance up to the 1.1530 price zone."
GBP/USD: "The 1 hour chart shows that the price remains above a bullish 20 SMA, whilst the technical indicators are turning slightly lower above their mid-lines, reflecting the ongoing consolidation near the highs. In the 4 hours chart the 20 SMA maintains its bullish slope now around 1.5580 whilst the Momentum indicator turned lower well above 100 and the RSI indicator holds around 79, supporting the dominant bullish trend."
Key headlines in Asia
AUD/USD off multi-month highs, Dalian iron ore weighs
NZ retail sales beats expectations in Q1
NZ Business PMI eases in April, still expansionary
Dominating themes in Asia - centered on JPY, AUD, NZD
A data-thin Asian session, with NZ retail sales numbers driving the New Zealand dollar north across the board, extending its previous RBNZ-backed rally. New Zealand retail sales volumes rose a record 2.7% in the March quarter, Statistics New Zealand said on Thursday, coming in much stronger than the market forecast of a 1.6% rise.
The Aussie shed gains and retraced from fresh four month peak, dragged down by sliding iron-ore prices (down nearly 3%) on the Dalian exchange. While USD/JPY trades modestly flat with the upside restricted by 100-DMA and downside cushioned by 119 support. The major corrects heavy losses seen yesterday following downbeat US retail volumes data.
Heading into Europe - centered on EUR, GBP
Dust settles after yesterday’s busiest EUR calendar this week with the EUR and GBP riding higher near multi-month highs. By contrast, there is nothing much to report in the European session ahead as most European markets remain closed in observance of ‘Ascension Day’ holiday.
Later in the North American session, US PPI and weekly unemployment claims will be closely watched for further US dollar moves. Both the macro data will be report at 12.30GMT.
The Labor Department is expected to report that the number of Americans filing new claims for unemployment benefits rose to 275,000 for the week ended May 9, compared with a seasonally adjusted 265,000 for the week ended May 2. Also, the Labor Department releases its producer price index data for April, which is not expected to have changed from the 0.2% reported in March.
EUR, GBP Technicals
Valeria Bednarik, chief analyst at FXStreet explains,
EUR/USD: "In the 4 hours chart, the 20 SMA has provided intraday support around the mentioned daily low and now aims slightly higher, whilst the Momentum indicator heads strongly up above 100 and the RSI indicator hovers around 67, all of which suggest some consolidation ahead, before a break higher, eyeing a continued advance up to the 1.1530 price zone."
GBP/USD: "The 1 hour chart shows that the price remains above a bullish 20 SMA, whilst the technical indicators are turning slightly lower above their mid-lines, reflecting the ongoing consolidation near the highs. In the 4 hours chart the 20 SMA maintains its bullish slope now around 1.5580 whilst the Momentum indicator turned lower well above 100 and the RSI indicator holds around 79, supporting the dominant bullish trend."