The NZD/USD pair attracts some buyers to near 0.5775, snapping the four-day losing streak during the Asian trading hours on Monday.
NZD/USD gains ground to around 0.5775 in Monday’s Asian session, adding 0.30% on the day. China’s November Industrial Production climbed 5.4%, Retail Sales rose 3.0%. A possible hawkish rate cut by the Fed could underpin the Greenback. The attention will shift to the preliminary US December Purchasing Managers Index for fresh impetus, which is due later on Monday. Data released bytheNational Bureau of Statistics of China showed on Monday that the nation’s Industrial Production rose 5.
How do the decisions of the Reserve Bank of Australia impact the Australian Dollar? The Reserve Bank of Australia influences the Australian Dollar by setting the level of interest rates that Australian banks can lend to each other. This influences the level of interest rates in the economy as a whole. The main goal of the RBA is to maintain a stable inflation rate of 2-3% by adjusting interest rates up or down.
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