FXBrokerFeed Reports on NZD/USD Bullish Momentum and Eurozone Downtrend

The fourth week of September 2019 witnessed the FX Market dominance by both NZD/USD currency pair, and a revived USD to award them bragging rights.

Ontario, Canada – September 28, 2019 /NewsNetwork/ —

The fourth week of September 2019 witnessed the FX Market dominance by both NZD/USD currency pair, and a revived USD to award them bragging rights. On the other hand, the Eurozone economic outlook remained downcast with Brexit uncertainties, and ECB board room squabbles for additional misery. Forex Broker comparison service FXBrokerFeed brings you updates, and opinions in the FX Broker Market, featuring a NZD/USD bulls rally, and the Eurozone in a crunch.

NZD/USD Bullish Gains

The currency pair outperformed rivals after genial remarks by RBNZ governor Adrian Orr during a fiscal outlook speech (in rbnz.govt.nz) to the NZX Issuer Forum in Auckland.

FXBrokerFeed observed the pair adding 20 pips to test a season high of 0.64% on Thursday, depicting a bullish rally that resonated with rising US 10-year yields, and comparable economic growth projections.

The RBNZ retained an August interest rate cap that had then caught the market unawares with an aggressive 50 basis points rates cut. The pair also rose on sentiment from data indicating rise in Chinese economic growth, and supplementary boost from a PBOC planned 900 billion Yuan easing stimulus package.

Additionally, softened US/China tariffs tone, and announcement for a Washington meeting in October by Chinese Commerce Ministry spurred brisk trading.

Eurozone Gloom

The Eurozone continued to struggle in the trenches with EUR/USD ticking a yearly low of 1.0922 as the USD rode on the back of a robust US economy to relegate other currency pairs on the sidelines of volatility.

Also, recurring unimpressive PMI data was evidence of a creeping recession while US auto tariffs threat inspired little confidence if any, to a globally vital and strategic economic pillar.

On the other hand, the Brexit fiasco rampaged unhindered while ECB board room misunderstandings resulted in the resignation of a board member, adding to the mucky tally.

FXBrokerFeed contends that a confident forward-outlook announcement by incoming ECB Governor Christine Lagarde indicating “massive stimulus for the sluggish Eurozone” is cause for welcome Forex Market anticipation in the mid-term.

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Source: NewsNetwork

Release ID: 88923629