NZD/USD bears take a breather around 0.6300 as China Caixin Services PMI jumps – by anilpanchal7 NZDUSD RiskAppetite PMI RBNZ Fed
China Caixin Services PMI rises to the highest levels since November 2020.Downbeat US data, yields keep Kiwi buyers hopeful ahead of US employment numbers.
Recently, China’s Caixin Services PMI rallied to 57.8 versus 54.0 expected 55.0 prior. In doing so, the China data rises to the highest level since November 2020.surprised markets with 0.50% rate hike. However, downbeat US data triggered recession woes afterward and weighed on the quote. Also likely to have exerted downside pressure on the NZD/USD are the geopolitical fears surrounding Taiwan and North Korea.
Elsewhere, US House of Representatives Speaker Kevin McCarthy’s talks with Taiwanese President Tsai Ing-Wen renewed the Sino-American tussles. On the other hand, North Korea on Thursday accused the U.S. and South Korea of escalating tensions to the brink of nuclear war through their joint military drills, vowing to respond with"offensive action," state media KCNA reported per Reuters.
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