NZD/USD retraces its two days of gains, trading around 0.5940 during the European session on Thursday.
NZD/USD depreciates due to increased risk aversion ahead of the release of ISM Manufacturing PMI. Fed Chair Jerome Powell stated that a rate cut in September is on the table. The Kiwi Dollar may struggle as the latest inflation data raises expectations of an RBNZ ’s rate cut by October. This decline is attributed to the improved US Dollar due to a recovery in US Treasury yields.
indicated in its statement that it does not foresee cutting rates until it has greater confidence that inflation is sustainably heading toward 2%. They require more progress on inflation before considering a cut in September unless a significant decline in the labor market begins to outweigh the slow progress on inflation. Regarding the New Zealand Dollar , recent data from China, a close trade partner, showed that the Caixin Manufacturing Purchasing Managers' Index for July came in at 49.
Majors Macroeconomics Newzealand RBNZ
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: NZD/USD rises and eyes the 0.6000 levelIn Wednesday's session, the NZD/USD rose by 0.80% to 0.5950.
Read more »
NZD/USD recovers above 0.5900 as upbeat Chinese PMI data boost KiwiThe NZD/USD pair extends recovery near 0.5915 Asian trading hours on Wednesday.
Read more »
NZD/USD maintains position above 0.5900 after China PMI, awaits Fed policy decisionNZD/USD trades around 0.5910 during the European session on Wednesday, extending its gains for the second consecutive session after hitting a three-month low at 0.5857 on Monday.
Read more »
NZD/USD sticks to modest gains after weaker Chinese PMI, remains below 50-day SMAThe NZD/USD pair builds on the previous day's goodish rebound from the 0.6050-0.6045 area, or its lowest level since mid-May and attracts some follow-through buyers for the second successive day on Wednesday.
Read more »
NZD/USD Price Analysis: Strongly recovers from 0.5900 after mix US flash PMIThe NZD/USD pair recovers sharply after plunging to near 0.5910 in Wednesday’s American session.
Read more »
NZD/USD falls toward 0.6100 as investors adopt caution ahead of RBNZ upcoming decisionNZD/USD continues to lose ground for the second consecutive day, trading around 0.6120 during the early European hours on Tuesday.
Read more »