The NZD/USD pair struggles to capitalize on the previous day's modest rebound from the 0.6100 mark, or a one-week low and trades with a mild negative bias during the Asian session on Tuesday.
NZD/USD remains under some selling pressure for the fourth straight day on Tuesday. The USD regains positive traction amid the Fed ’s hawkish stance and weighs on the pair. Concerns about China ’s economic recovery further contribute to the modest decline. The NZD/USD pair struggles to capitalize on the previous day's modest rebound from the 0.6100 mark, or a one-week low and trades with a mild negative bias during the Asian session on Tuesday.
Apart from this, mixed economic data released from China on Monday underlined bumpy recovery in the world's second-largest economy and turns out to be another factor undermining antipodean currencies, including the Kiwi. Meanwhile, weaker US consumer and producer prices suggested that inflation is subsiding, keeping hopes alive for the first Fed rate cut in September and another in December. This might cap gains for the Greenback and lend some support to the NZD/USD pair.
Fed Interestrate China Currencies
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.
US Dollar Technical Outlook: EUR/USD, GBP/USD, NZD/USD Price SetupsThe US dollar has taken a step back this week as moves have been driven largely by localised data and central bank developments during a quieter week for the US
Read more »
NZD/USD IG Client Sentiment: Our data shows traders are now net-long NZD/USD for the first time since May 15, 2024 13:00 GMT when NZD/USD traded near 0.61.Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger NZD/USD-bearish contrarian trading bias.
Read more »
NZD/USD IG Client Sentiment: Our data shows traders are now net-long NZD/USD for the first time since May 31, 2024 14:00 GMT when NZD/USD traded near 0.61.Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger NZD/USD-bearish contrarian trading bias.
Read more »
NZD/USD depreciates to near 0.6100 due to waning odds of a Fed rate cut in SeptemberNZD/USD edges lower to near 0.6120 during the European trading session on Tuesday.
Read more »
NZD/USD loses traction below 0.6150, focus on US CPI, Fed rate decisionThe NZD/USD pair snaps the two-day winning streak around 0.6140 on Wednesday during the early Asian session.
Read more »
NZD/USD Price Analysis: Posts fresh four-month high near 0.6220 after soft US Inflation reportThe NZD/USD pair shoots to a four-month high near 0.6220 in Wednesday’s New York session.
Read more »