The NZD/USD pair remains on the defensive near 0.5970 during the Asian trading hours on Wednesday.
NZD/USD softens to around 0.5970 in Wednesday’s Asian session. The dovish stance of the RBNZ weighs on the Kiwi, but the additional China stimulus plans might cap its downside. Investors will monitor the advanced US Q3 GDP, which will be published on Wednesday. The dovish stance of the Reserve Bank of New Zealand continues to weigh on the pair. Investors will take more cues from the advanced US Gross Domestic Product for the third quarter and the US ADP Employment Changefor October on Wednesday.
The performance of the Chinese economy tends to move the Kiwi because China is New Zealand’s biggest trading partner. Bad news for the Chinese economy likely means less New Zealand exports to the country, hitting the economy and thus its currency. Another factor moving NZD is dairy prices as the dairy industry is New Zealand’s main export. High dairy prices boost export income, contributing positively to the economy and thus to the NZD.
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 Forecast: Falls further below 0.6150 as traders brace for RBNZ policy decisionThe NZD/USD pair extends its losing spree for the fifth trading session on Monday.
Read more »
NZD/USD Price Forecast: Plunges below 0.6100 on RBNZ 50 bps rate cutThe NZD/USD pair faces an intense sell-off and slides below the round-level support of 0.6100 in Wednesday’s North American session.
Read more »
NZD/USD remains below 0.6000 as downside risks persist due to dovish mood surrounding RBNZThe NZD/USD pair steadies near 0.5980 during the Asian session on Tuesday after two days of losses.
Read more »
NZD/USD drops to near 0.6050 as annual inflation declines within the RBNZ target rangeNZD/USD experiences a decline for the second consecutive day, trading around 0.6060 during Asian trading hours.
Read more »
NZD/USD Sinks as Disinflation Trend Adds to Case for RBNZ Jumbo Rate CutForex Analysis by David Scutt covering: New Zealand Dollar US Dollar. Read David Scutt's latest article on Investing.com
Read more »
NZD/USD inches higher to near 0.6050, upside seems limited due to increased risk aversionNZD/USD may face challenges due to dovish sentiment surrounding the RBNZ’s policy outlook.
Read more »