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NZDCAD bottmed and ready to 0.8800-0.8900

General outlook for the pair:
  • The pair moved in the last weeks between 0.8860 and 0.8560.
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CAD performed well last week, Housing Starts 201K VS 213K expected, NHPI m/m +0.1% as expected, next week focus will be on Foreign Securities Purchases, Manufacturing Sales m/m, CPI m/m and Core Retail Sales m/m.

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Break and close below 0.8550 means strong bearish control, still bearish with no sign of reversal.

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Kiwi performed so well last week, GDT Price Index came at -1.3% VS last -0.7% expected, Westpac Consumer Sentiment 103.5 VS last 108.6, Current Account -1.62B VS -1.23B, GDP q/q +1.0% VS +0.8% expected, next week with so important data includes ANZ Business Confidence, Official Cash Rate, RBNZ Monetary Policy Statement and RBNZ Press Conference.

in other hand,

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CAD performed so well last week, Foreign Securities Purchases 12.65B VS 4.35B expected, Manufacturing Sales m/m +0.9% VS +1.0% expected, CPI m/m -0.1% as expected, Core Retail Sales m/m +0.9% VS +0.6% expected, next week focus will be on BOC Gov Poloz Speaks and GDP m/m.

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Pair closed day and week above 0.8600 then it strong buy signal and strong gains ahead for the pair....

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NZDCAD bottomed and to close next month around 0.9000

General outlook for the pair:
  • The pair moved in the last weeks between 0.8830 and 0.8940.
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Failed below 0.8800, still bearish  but holds now in oversold areas.

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KIWI end week with strong gains and closed near week high, PPI Input q/q came at +1.0% VS +0.2% expected, next week focus will be on GDT Price Index, Retail Sales q/q and Trade Balance.

in other hand, CAD performed so well last week, Manufacturing Sales m/m came at 1.1% VS 1.0% expected, CPI m/m +0.5% VS +0.5% expected, Foreign Securities Purchases at 11.55B VS 4.91B expected, NATFA talks improved and this also helped CAD, next week focus will be on Wholesale Sales m/m and Core Retail Sales m/m.

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0.8550 gave strong demand and then closed above 0.8600 gave more demand (False break out), but still bearish below 0.8750.

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Kiwi performed so worst last week, Building Consents m/m -10.3% VS -8.2%, ANZ Business Confidence -50.3 VS -44.9, next week focus will be on Overseas Trade Index q/q and GDT Price Index.
in other hand, CAD did not perform well last week, Current Account came at -15.9B VS -15.3B, GDP m/m 0.0% VS +0.1% expected, next week focus will be on Trade Balance, Overnight Rate, Employment Change and Unemployment Rate.

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Reached again to daily support area around 0.8600, still expect rally from this area... next week critical for bulls.

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NZDCAD Still Bullish aiming 0.9300

General outlook for the pair:
  • The pair moved in the last weeks between 0.9000 and 0.9230.
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Strong reversal from 0.8850 to 0.8950 but still bearish in the short term.

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KIWI performed worst last week, Business NZ Manufacturing Index 52.8 VS 54.4 last, next week focus will be on CPI q/q and GDT Price Index, in other hand, CAD performed well last week, BOC raised Overnight Rate to 1.5% as expected, next week focus will be on Manufacturing Sales m/m, CPI m/m and Core Retail Sales m/m.

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Still found demand around 0.8850-0.8900, next week critical for bulls.

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Kiwi performed well last week, CPI q/q +0.4% VS +0.5% expected, GDT Price Index -1.7% With -5.0% month ago, next week focus will be on Trade Balance, in other hand, CAD performed well last week, Manufacturing Sales m/m 1.4% VS -1.1% last, CPI m/m +0.1% as expected, Core Retail Sales m/m +1.4% VS +0.6% expected, next week focus will be on Wholesale Sales m/m.

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Stabilized around 0.8950 with no clear direction, let's monitor next week.

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NZDCAD bottomed and ready to fight above 0.9000 again

General outlook for the pair:
  • The pair moved in the last weeks between 0.9100 and 0.8780.
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Pair hit and consolidated around targeted at 0.9170 but still have room for more up.

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KIWI performed worse last week, GDT Price Index -1.2% VS last -1.3%, Current Account +0.18B VS last -2.75B, GDP q/q +0.5% as expected, next week focus will be on ANZ Business Confidence and RBNZ Rate Statement (CASH RATE), in other hand, CAD performed worst last week, CPI m/m +0.1% VS +0.4% expected, Core Retail Sales m/m -0.1% VS +0.5% expected, next week focus will be on BOC Gov Poloz Speaks, GDP m/m and BOC Business Outlook Survey.

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Pair jumped to 0.92250 and hit target and closed week around 0.9200, pair may consolidate around these levels in the next time.

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KIWI was the worst last week, ANZ Business Confidence -39.0 VS last -27.2,  RBNZ Rate Statement pointed to lower growth and rising trade tension as cash rate is left unchanged, next week focus will be on NZIER Business Confidence and GDT Price Index, in other hand, CAD performed so well last week, GDP m/m +0.1% VS 0.0% expected, next week focus will be on Employment Change and Trade Balance.

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Free fall to 0.8900 after fail of 0.9050-0.9100 to hold, strong bearish.

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NZDCAD to close next month below 0.9000

General outlook for the pair:
  • The pair moved in the last weeks between 0.9300 and 0.9050.
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Kiwi performed the worst last week, Inflation Expectations q/q came under expecation at 2.0% VS 2.1% expected, The RBNZ sees softer GDP growth and inflation in their last meeting, next week focus will be on GDT Price Index and Annual Budget Release, in other hand, CAD performed well in last week, Building Permits m/m came at 3.1% VS 2.0%, Employment Change came at -1.1K VS 17.8K expected, Unemployment Rate at 5.8% as expected, focus in next week will be on CPI data.

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As expected pair hold above critical 0.8850, pair may consolidate around 0.8850-0.9000 for the next days.

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Kiwi did not perform well but recovered most week losses as GDT Price Index came at 1.9% VS -1.1% last reading, PPI Input q/q came at 0.6% VS 0.3% expected, next week focus will be on Retail Sales q/q and Trade Balance, in other hand, CAD did not perform well last week as Manufacturing Sales m/m came at 1.4% VS 1.1%, CPI came at 0.3% as expected, but Core retail sales came at -0.2% VS +0.5% expected, no week with no significant data except for OPEC-JMMC Meetings.

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close below 0.8850 but then close above it, good reversal sign, 0.90000 could work as good resistance.

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Up and down around target at 0.8950, still expected to consolidate around these levels.

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NZDCAD topped around 0.9500 and ready to fall

General outlook for the pair:
  • The pair moved in the last weeks between 0.9200 and 0.9520.
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Pair played in narrow range around 0.9300 but still bearish in the near time.

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Kiwi performed worst last week, and this despite of good GDT price index which came at +2.7% and good CPI q/q which came at +0.5% VS +0.4% expected, next week trade balance will be released next Friday, in other hand, CAD performed worst last week, BOC decision and statement was not encouraging as BOC still suspected that inflation still temporary and still worry about US measures against Canada, CPI data also was not helpful and ensured BOC thought about inflation, lack of significant data next week but BOC Gov Boloz will speak on Monday.

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Pair found buyers around 0.9120, closed week around 0.9180, gains still expected but limited.

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Kiwi continued falling last week as Trade Balance came at -86M VS 270M expected and last month revised to +172M from +217M expected, next week focus will be on Employment change and unemployment rate, in other hand,  CAD performed worst last week Vs majors, no significant data was last week but Wholesale Sales was -0.8% worse than expected at +0.3%, Next week will be important for CAD as we wait GDP m/m and then Trade Balance data.

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Still bearish but may go up as 0.9050 seemed to hold till now, 0.9170 next target.

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NZDCAD still bullish aiming 0.9500

General outlook for the pair:
  • The pair moved in the last weeks between 0.9000 and 0.9350.
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Kiwi performed very good and made strong week VS majors as most commodities currencies like Aussie and CAD, no significant data of last week as GDT Price Index -0.6% VS -0.5% , Next week GDP q/q will be so important for kiwi, in other hand, CAD performed very good and made strong week VS majors after heavy losses last week, BOC still see economy progressing well, unemployment rate fell to 5.8% VS 5.9% expected, strong oil prices also help.

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Till now 0.9450 seen as top, 0.9300 as bottom, good direction will be made after break above 0.9450 or below 0.9300.

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Kiwi performed worst VS majors as Kiwi data missed expectation, GDP q\q was +0.6% VS +0.8% expected, Business manufacturing index at 53.4 VS 54.4 expected, next week will be so important as RBNZ meeting and rate statement will be released Wednesday night, in other hand, CAD performed worst VS majors, with no significant data last week but manufacturing sales fell -1.0% VS -0.8% expected, CAD still under pressure due to expected trade wars from US, next week CPI and retails sales data will be the most important.

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as expected pair hit 0.9500 and then went back to 0.9450, pair still bullish but may loss some momentum steam around 0.9500 area.

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Paid found buyers around 0.9200 after strong falling last week, look carefully to 0.9450.

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NZDCAD to stay in 0.8600-0.9200 range

General outlook for the pair:
  • The pair moved in the last weeks between 0.9200 and 0.8600.
  • The pair is expected to move in the next month between 0.9200 and 0.8600 as it faces clusters of daily/weekly tops and bottoms.

Pair recent direction : Range

Expected rate of the pair 1st of March, 12:00 GMT:
0.8804
Expected market sentiment: Neutral

Chart of major support (S) and resistance (R):


Weekly chart

Chart of expected scenario:

Daily chart
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khalidamassi avatar

Still around top below 0.9200 and still unable to break above it, till now it seemed strong sell opportunity.

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KIWI still performed well as Kiwi data still so supportive, Inflation expecation at +2.1% VS +2%, Business NZ Manufacturing Index came at 55.6 VS 51.1 and all of this help Kiwi to surge, in other hand, CAD did not perform well as still affected by last week employment data and lower oil prices and NATFA issue still to be driver for CAD movement.

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As pair closed above 0.9200, this is diminishing expected bearish scenario...

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Kiwi failed to hold last week gains despite of good GDT price index which came at 1% VS 0.4% expected and retail sales at 1.7% VS 1.4% and this due to overbought conditions for kiwi pair week ago., in other hand, CAD hit last week by most majors as Core retail sales were so bad as it came at -1.8% VS 0.1% expected, but after Strong CPI date at 0.7% VS 0.4% expected, pair recovered most of the week losses.

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0.9150-0.9200 now considered as strong base and any bearish try should at least broke below 0.9150, but till now sentiment still bullish.

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NZDCAD to top around 0.9000 before falling

General outlook for the pair:
  • The pair moved in the last weeks between 0.8600 and 0.9050.
  • The pair is expected to move in the next month between 0.9100 and 0.8300 as it faces clusters of daily/weekly tops and bottoms.

Pair recent direction : Up

Expected rate of the pair 1st of February, 12:00 GMT:
0.8581
Expected market sentiment: Bearish

Chart of major support (S) and resistance (R):


Weekly chart

Chart of expected scenario:

Daily chart
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Still in narrow range of last week 0.8850-0.8950 with no clear direction...

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Kiwi gained with no significant news advanced against USD last week  but mixed with others, In other hand, CAD dollar still helped strongly with strong gains of oil, CAD but expected US exit from NATFA agreement put strong pressure on CAD and this still expected to weight in the near future,

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PAir again found a base around 0.8850 bfore closing the week around top at 0.9100, below 0.9150 upside seen limited.

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Kiwi gained some ground as GDT price index surged 4.9% after 2.2% month ago, Kiwi still seen supported as good data from China and New Zealand keep bid in kiwi, In other hand, CAD dollar got a boost from BOC rate hike and still helped with oil gains but worries about NATFA agreement put strong pressure on CAD and this still expected to weight in the near future.

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Pair advansed to 0.9100 area which is so difficult to be broken in the near time, so more consolodation ahead or pair start to falling.

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NZDCAD still bearish aiming 0.8500 and below

General outlook for the pair:
  • The pair moved in the last weeks between 0.8600 and 0.9100.
  • The pair is expected to move in the next month between 0.8900 and 0.8300 as it faces clusters of daily/weekly tops and bottoms.

Pair recent direction : Down

Expected rate of the pair 2nd of January, 12:00 GMT:
0.8581
Expected market sentiment: Bearish

Chart of major support (S) and resistance (R):


Weekly chart

Chart of expected scenario:

Daily chart
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Pair still play in small daily range around 0.8800, 0.8675 now holds as daily support which the pair respect and thus this may threaten expected bearish scenario.

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Kiwi stabilized and both Newzealand and Chinese data gave a boost for the kiwi against most currencies, In other hand,CAD still vulnerable due to lower oil prices and lower GDP in last quarter but BOC still optimistic but this not persuade CAD investors so much.

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Strong bullish weekly close, pair rose from 0.8800 and 0.9000 and closed around top, strong bullish momentum.

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Kiwi did not move much last week, despite of strong GDP data but trade balance and GDT index missed expectation and caused pair to consolidate around 0.7000 without mean direction, In other hand, CAD dollar was helped at week beginning with strong CPI and retails sales numbers but then lagged by lower GDP data and with dovish speech by BOC Governor.

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Pair still cloing above last daily resistance at 0.8780 now hold around 0.8835, 0.8800 seemed to work as strong support for the near term.

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