GBP/NZD Fundamental, Technical & Signal
FUNDAMENTAL ANALYSIS
GBP/NZD Price Impacting Economic Events
*( GBP upcoming events are important and leading economic indicators and WILL impact price during trade, increasing volatility and unpredictability )
…………………………………………………………………………………….
GBP TODAY Economic Events:
- Unemployment Rate ( 3.8 same as previous )
- Unemployment Claims ( -20.1k higher than previous )
GBP Upcoming Economic Events
- Year over Year inflation rates ( Forecasted 9.5, .4% higher than previous )
- Gfk Consumer Confidence ( Forecasted -44.0, -3.0 lower than previous )
- Retail Sales ( Forecasted -0.2%, -0.3% higher than previous )
- S&P Global/CIPS Manufacturing PMI Flash ( Forecasted 51.9, .9 lower than previous )
*GBP Economic Condition Thesis: Peak - Early Contraction
- Overheated/reached peak, BoE ( Bank of England ) recognized, understands and expressed the upcoming of a slowing economy through forecasted rates for economic announcements.
…………………………………………………………………………………….
NZD Previous Economic Events
- .5% interest rare hike, total 2.5% interest rate
- Business NZ PMI 49.7 ( falling below 50 supports contraction phase in equities market. Lowering earnings, income and free cash flow )
- Year over Year inflation rate 7.3%, higher than forecasted and previous
- Quarter over quarter inflation rate 1.7%, higher than forecasted and lower than previous
NZD upcoming economic events:
- Balance of trade ( 398M forecasted to be higher than previous )
- ANZ Business confidence ( previous -62.6, supporting consumers decisions to spend less )
NZD Economic Conditions Thesis: Established contraction phase from reaching peak . Increasing inflation addressed with dovish interest rate hike. BUSINESS PMI and Confidence levels are well below healthy conditions supporting contraction phase in New Zealand's equity market caused by declining consumer spending and higher prices for goods and services.
………………………………………………………………..…………………….
TECHNICAL ANALAYSIS
Price Action:
- Trading above Mid Term Downtrend( 8 months ), within short and long moving averages and near 52 week lows.
Volume:
- Relatively more selling than buying in most recent sessions and 1 random spike in both buying and selling volume above average 2 days short of 1 month.
RSI:
- Neutral between 50 - 25 Oversold
Vortex:
- Converged and starting to form a bearish cross above bullish trend momentum.
………………………………………………………………..…………………….
SHORT SIGNAL:
- Sell Limit 1.96600
- Profits 1.92700 - 1.89500
GBP/NZD Price Impacting Economic Events
*( GBP upcoming events are important and leading economic indicators and WILL impact price during trade, increasing volatility and unpredictability )
…………………………………………………………………………………….
GBP TODAY Economic Events:
- Unemployment Rate ( 3.8 same as previous )
- Unemployment Claims ( -20.1k higher than previous )
GBP Upcoming Economic Events
- Year over Year inflation rates ( Forecasted 9.5, .4% higher than previous )
- Gfk Consumer Confidence ( Forecasted -44.0, -3.0 lower than previous )
- Retail Sales ( Forecasted -0.2%, -0.3% higher than previous )
- S&P Global/CIPS Manufacturing PMI Flash ( Forecasted 51.9, .9 lower than previous )
*GBP Economic Condition Thesis: Peak - Early Contraction
- Overheated/reached peak, BoE ( Bank of England ) recognized, understands and expressed the upcoming of a slowing economy through forecasted rates for economic announcements.
…………………………………………………………………………………….
NZD Previous Economic Events
- .5% interest rare hike, total 2.5% interest rate
- Business NZ PMI 49.7 ( falling below 50 supports contraction phase in equities market. Lowering earnings, income and free cash flow )
- Year over Year inflation rate 7.3%, higher than forecasted and previous
- Quarter over quarter inflation rate 1.7%, higher than forecasted and lower than previous
NZD upcoming economic events:
- Balance of trade ( 398M forecasted to be higher than previous )
- ANZ Business confidence ( previous -62.6, supporting consumers decisions to spend less )
NZD Economic Conditions Thesis: Established contraction phase from reaching peak . Increasing inflation addressed with dovish interest rate hike. BUSINESS PMI and Confidence levels are well below healthy conditions supporting contraction phase in New Zealand's equity market caused by declining consumer spending and higher prices for goods and services.
………………………………………………………………..…………………….
TECHNICAL ANALAYSIS
Price Action:
- Trading above Mid Term Downtrend( 8 months ), within short and long moving averages and near 52 week lows.
Volume:
- Relatively more selling than buying in most recent sessions and 1 random spike in both buying and selling volume above average 2 days short of 1 month.
RSI:
- Neutral between 50 - 25 Oversold
Vortex:
- Converged and starting to form a bearish cross above bullish trend momentum.
………………………………………………………………..…………………….
SHORT SIGNAL:
- Sell Limit 1.96600
- Profits 1.92700 - 1.89500