The NZD/USD pair recovers sharply after plunging to near 0.5910 in Wednesday’s American session.
NZD/USD recoversswiftly from 0.5910 as the US Dollar corrects. The US Dollar weakens after mixed US S&P flash PMI for July. China ’s dismal economic prospects and increased RBNZ rate-cut bets have weighed on the New Zealand Dollar. The Kiwi asset bounces back as the US Dollar corrects sharply after mix United States S&P Global flash PMI data for July. The Manufacturing PMI surprisingly contracted, while the Services PMI expanded at a faster pace.
NZD/USD daily chart New Zealand Dollar FAQs What key factors drive the New Zealand Dollar? The New Zealand Dollar , also known as the Kiwi, is a well-known traded currency among investors. Its value is broadly determined by the health of the New Zealand economy and the country’s central bank policy. Still, there are some unique particularities that also can make NZD move. The performance of the Chinese economy tends to move the Kiwi because China is New Zealand’s biggest trading partner.
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