Morning Insights 15th September

Simon Alagbe

Analyst


Instrument: NZDUSD

The greenback traded higher against the Kiwi in the session yesterday after the latest Consumer Price Index data raised doubts that tapering of assets will begin in 2021. The Federal Reserve officials have continually described the rising inflation of the previous months as transitory and the data made available yesterday all but confirm the stance. The release of disappointing data from China this morning weighed on the Kiwi, the New Zealand official currency, since most of the country's trading activity is with China. 


Technicals

The presence of a hammer which has been confirmed around the support zone on the hourly timeframe favours the bulls on the pair, with a target at 0.71139 and 0.71459 in extension and a stop loss at 0.70650 


Fundamentals 

Empire State Manufacturing Index (USD)  1:30 PM

Industrial Production m/m (USD)  2:15 PM

GDP q/q (NZD) 11:45 PM

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