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Message: [QUOTE="Zerologic, post: 240964, member: 126754"] [ATTACH type="full"]31277[/ATTACH] NZD/USD fluctuates amid US China trade war concerns Yesterday the NZDUSD currency pair drew a bullish candle with a rather long wick at the bottom of the candle. NZDUSD price movements fluctuate between the upper and lower band lines with moderate volatility. Price formed a high 0.56547 low 0.55817 closing 0.56489 on FXOpen platform crosses middle band from downside. During the European session on Tuesday trading the NZDUSD pair faced volatility as risk-off sentiment increased by US-China trade tensions. China countered new US tariffs of 10% that went into effect on Tuesday by imposing its own tariffs: a 15% tax on US imports of coal and liquefied natural gas (LNG), along with an additional 10% on crude oil, agricultural equipment and some car. China's Ministry of Commerce will also control exports of tungsten, tellurium, ruthenium, molybdenum and related products under the pretext of protecting national security interests. On the other hand, Chinese exporters are trying to avoid US tariffs by moving production by considering relocating to the Middle East and other regions. Yesterday's US JOLTS Job data was released with figures much lower than expected, weighing on the US dollar somewhat. Actual data shows 7.60M smaller than expected 8.01M from the previous revision of 8.16M. Meanwhile, the Reserve Bank of New Zealand (RBNZ) is expected to reduce interest rates by 50 bp to 3.75% this month and a potential reduction in the benchmark interest rate of 3.0% within a year. Canada's Employment Change in this quarter showed data of -0.1% from the expected -0.2% and previous revision of -0.6%. Meanwhile, the Unemployment Rate was 5.1% as estimated at 5.1% from the previous revision of 4.8%. The market is expected to continue fluctuating due to Trump's policies, which have a widespread impact on global markets. [/QUOTE]

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