EURNZD

(Last Updated January 12, 2021)

Hello! This is the news page for EURNZD. Below you’ll find our daily market updates. Here’s a technical and fundamental summary of where things currently stand:

Forex Calendar for EURNZD

metric_name	reference_period	asset_name	asset_id	date	time	forecast
Euro Area ECB President Lagarde Speech	NA	Euro	EUR	2021-01-13	09:00 GMT
Euro Area Industrial Production MoM	Nov 2020	Euro	EUR	2021-01-13	10:00 GMT	0.2%
Euro Area Industrial Production YoY	Nov 2020	Euro	EUR	2021-01-13	10:00 GMT	-3.3%
Euro Area ECB Monetary Policy Meeting Accounts	NA	Euro	EUR	2021-01-14	12:30 GMT
Euro Area Balance of Trade	Nov 2020	Euro	EUR	2021-01-15	10:00 GMT	€26B

The Trend

If we observe the 90, 30 and 14 day timeframes, we see a downtrend in place for EURNZD.

EURNZD Moving Averages

The moving averages on EURNZD indicate a trend that is clearly bearish.

The chart below illustrates.

Regarding EURNZD’s correlations over the past 7 days, it has demonstrated the strongest correlation with EURAUD. EURNZD has been most correlated with EURAUD over the past 14 days also, so this may be a structural correlation in the market. On the flip side, USDCHF has been the asset least correlated with EURNZD — but if we observe the prior two weeks, USDJPY has been the asset least correlated with EURNZD. See the chart below to observe the recent price action in EURNZD versus those of assets it hasn’t been well correlated with.

The View From the Weekly Timeframe

At the time of this writing, EURNZD’s rate is up 87 pips (0.52%) from the week prior. Moreover, note that this move is a reversal from the week prior, which saw price move down. If you’re a trend trader, consider that the strongest clear trend on the weekly chart exists on the 20 week timeframe. Looking further out, the moving averages on the weekly timeframe suggest a choppiness in price, as the are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders. The weekly chart below shows EURNZD’s price action over the past year.