New Zealand Dollar Declines as US Data Suggests Elevated Price Pressures

Finance News

New Zealand Dollar Declines as US Data Suggests Elevated Price Pressures
New Zealand DollarNZDUSD
  • 📰 FXStreetNews
  • ⏱ Reading Time:
  • 23 sec. here
  • 9 min. at publisher
  • 📊 Quality Score:
  • News: 37%
  • Publisher: 72%

The New Zealand Dollar (NZD) is trading lower in its NZD/USD pair on Thursday after the release of US macroeconomic data suggests price pressures are likely to remain elevated. Producer Prices (PPI) for February came out higher than economist’s forecasted, according to data from US Bureau of Labour Statistics. It suggests inflation is likely to remain stubbornly high in the US, forcing the Federal Reserve to keep interest rates at their current level for longer, and scotching hopes of an early interest-rate cut. Higher interest rates are generally positive for a currency because they attract more inflows of foreign capital, so the data weighed on the NZD/USD pair, which measures the buying power of one New Zealand Dollar in US Dollar (USD) terms.

The New Zealand Dollar ( NZD ) is trading lower in its NZD / USD pair on Thursday after the release of US macroeconomic data suggests price pressures are likely to remain elevated. Producer Prices (PPI) for February came out higher than economist’s forecasted, according to data from US Bureau of Labour Statistics.

It suggests inflation is likely to remain stubbornly high in the US, forcing the Federal Reserve to keep interest rates at their current level for longer, and scotching hopes of an early interest-rate cut. Higher interest rates are generally positive for a currency because they attract more inflows of foreign capital, so the data weighed on the NZD/USD pair, which measures the buying power of one New Zealand Dollar in US Dollar (USD) terms

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

FXStreetNews /  🏆 14. in US

New Zealand Dollar NZD USD US Macro Data Producer Prices Inflation Interest Rates

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

NZD/USD Price Analysis: Slightly rises to 0.6160 as US Dollar dropsNZD/USD Price Analysis: Slightly rises to 0.6160 as US Dollar dropsThe NZD/USD pair is slightly up by 0.08% at 0.6160 in Wednesday’s early American session.
Read more »

NZD/USD IG Client Sentiment: Our data shows traders are now net-short NZD/USD for the first time since Feb 27, 2024 18:00 GMT when NZD/USD traded near 0.62.NZD/USD IG Client Sentiment: Our data shows traders are now net-short NZD/USD for the first time since Feb 27, 2024 18:00 GMT when NZD/USD traded near 0.62.Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger NZD/USD-bullish contrarian trading bias.
Read more »

Dollar Tree to Close 370 Family Dollar Locations and 30 Dollar Tree StoresDollar Tree to Close 370 Family Dollar Locations and 30 Dollar Tree StoresDollar Tree, the discount variety store chain, plans to close 370 Family Dollar locations and 30 Dollar Tree stores due to difficulties in maintaining the value of both brands. The company aims to improve profitability and unlock value at Family Dollar.
Read more »

NZD/USD posts modest gains above the mid-0.6100s, US Retail Sales eyedNZD/USD posts modest gains above the mid-0.6100s, US Retail Sales eyedThe NZD/USD pair trades strongly above the mid-0.6100s during the early Asian session on Thursday.
Read more »

Australian Dollar consolidates after intraday losses amid an improved US Dollar, PPI eyedAustralian Dollar consolidates after intraday losses amid an improved US Dollar, PPI eyedThe Australian Dollar (AUD) attempts to halt its gains registered in the last two sessions as the US Dollar (USD) could gain ground on improved Treasury yields.
Read more »

Cinnamon products sold at Dollar Tree, Family Dollar have elevated lead levels, FDA saysCinnamon products sold at Dollar Tree, Family Dollar have elevated lead levels, FDA saysThe Food and Drug Administration is warning consumers to avoid more cinnamon products that have elevated levels of lead and could be harmful to a person over a prolonged period.
Read more »



Render Time: 2025-02-06 23:26:00