Wall Street Hits Fresh Records Lifted by Powell

Powell’s Jackson Hole Remarks Boost Risk Appetite

The US dollar traded mixed against the other major currencies on Monday and during the Asian session Tuesday. It gained only versus CHF and JPY, while it underperformed against NZD and CAD. The greenback was found nearly unchanged, within a ±0.10% range, against EUR, GBP, and AUD.

NZD/JPY — Technical Outlook

NZD/JPY edged north during the Asian session today, after hitting support at the upside line drawn from the low of August 20th. As long as the rate continues to trade above that line, we would consider the short-term picture to be positive.

EUR/NZD — Technical Outlook

EUR/NZD fell during the Asian session today, breaking below the 1.6810 barrier, marked by August 27th, thereby confirming a forthcoming lower low. That said, the decline was stopped by the 1.6735 level and then, the rate rebounded somewhat. In any case, EUR/NZD continues to trade below the downside resistance line drawn from the high of August 23rd and thus, we would consider the short-term outlook to be negative.

As for the Rest of Today’s Events

Germany’s unemployment rate for August is also coming out and the forecast points to a downtick to 5.6% from 5.7%.

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