fbpx

PU Prime App

Exclusive deals on mobile

  • Market Insights  >  Trade Of The Day

15 July 2024,02:15

Trade Of The Day

Kiwi Slips Amid Weak Business NZ PSI, Rising Risk Aversion

15 July 2024, 02:15

Share on:
FacebookLinkedInTwitterShare
kiwi slips amid weak business NZ PSI, rising risk adversion trading opportunities 15 July 2024

Fundamental Analysis

* PSI Bust: The New Zealand dollar has depreciated against the US dollar as the market absorbed the weaker-than-expected Business NZ Performance Services Index. The New Zealand service sector’s decline is accelerating, with the index falling to 40.2 in June, marking its fourth consecutive monthly decrease and the lowest activity level recorded in a month. Additionally, the US dollar’s recovery is exerting pressure on the NZD/USD pair, as risk aversion intensified following the attempted assassination of former US President Donald Trump.

Technical Analysis

* Technical Breakout: NZDUSD was traded lower following recent retracement from the resistance level 0.61180. MACD which illustrate bearish momentum signal suggest the pair to further extend its losses.

* Resistance and Support: If the bearish momentum persists, there’s a strong likelihood that the price will potentially head towards 0.60700. Conversely, a potential correction is also to be expected and the price could head towards 0.61180.

Understand how technical analysis can help you in this trading opportunity.

Potential Risks

Moving ahead, investors will focus on upcoming data such from the U.S such as Retail Sales. Moreover, the market will be look towards China, as the Communist Party of China starts the Third Plenum today. This significant meeting could shape the country’s long-term economic strategy and offer additional momentum.

Know how to manage trading risks with risk management strategies.

Monitoring

Stay updated on US and New Zealand data, central bank updates and any shifts in the US Dollar’s strength by following PU Prime’s market insights and daily financial news.

Grab the trading opportunity and dive into the action risk-free with a free demo account. It is the perfect way to hone your skills and explore the exciting world of trading!

Open Your Free Demo Account And Start Trading Risk-Free

Join Now



Disclaimer: Trading derivatives involves high risks, and market conditions can change rapidly. The content is for informational purposes only and should not be considered as financial advice. Traders should conduct their own research and consider risk management strategies.

Start trading with an edge today

Trade forex, indices, metal, and more at industry-low spreads and lightning-fast execution.

  • Start trading with deposits as low as $50 on our standard accounts.
  • Get access to 24/7 support.
  • Access hundreds of instruments, free educational tools, and some of the best promotions around.
Join Now

Latest Posts

Fast And Easy Account Opening

Create Live Account
  • 1

    Register

    Sign up for a PU Prime Live Account with our hassle-free process.

  • 2

    Fund

    Effortlessly fund your account with a wide range of channels and accepted currencies.

  • 3

    Start Trading

    Access hundreds of instruments under market-leading trading conditions.

Please note the Website is intended for individuals residing in jurisdictions where accessing the Website is permitted by law.

Please note that PU Prime and its affiliated entities are neither established nor operating in your home jurisdiction.

By clicking the "Acknowledge" button, you confirm that you are entering this website solely based on your initiative and not as a result of any specific marketing outreach. You wish to obtain information from this website which is provided on reverse solicitation in accordance with the laws of your home jurisdiction.

Thank You for Your Acknowledgement!

Ten en cuenta que el sitio web está destinado a personas que residen en jurisdicciones donde el acceso al sitio web está permitido por la ley.

Ten en cuenta que PU Prime y sus entidades afiliadas no están establecidas ni operan en tu jurisdicción de origen.

Al hacer clic en el botón "Aceptar", confirmas que estás ingresando a este sitio web por tu propia iniciativa y no como resultado de ningún esfuerzo de marketing específico. Deseas obtener información de este sitio web que se proporciona mediante solicitud inversa de acuerdo con las leyes de tu jurisdicción de origen.

Thank You for Your Acknowledgement!