The NZD/USD pair bounces back from the psychological support of 0.6000 in Thursday’s European session.
NZD/USD finds fresh buying interest near 0.6000, while the near-term trend remains bearish. The US Dollar’s outlook remains firm due to multiple tailwinds. Traders expect the RBNZ to cut interest rates again by 50 bps in November. The Kiwi pair rebounds as the US Dollar corrects after posting a fresh high in 12 weeks. The US Dollar Index faces pressure while attempting to break above the key resistance of 104.50.
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. 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.
RBNZ Fed Fibonacci Dollarindex
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: Extends rally to near 0.6300 as China unveils massive stimulusThe NZD/USD pair rallies to near the key resistance of 0.6300 in Tuesday’s North American session.
Read more »
NZD/USD Price Forecast: Remains below 0.6350, the upper boundary of the ascending channelNZD/USD breaks its five-day winning streak, trading around 0.6330 during the European session on Wednesday.
Read more »
NZD/USD Price Forecast: Holds ground above 0.6250, lower boundary of the ascending channelNZD/USD recovers its recent losses from the previous session, trading around 0.6280 during the early European hours on Thursday.
Read more »
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 Price Forecast: Finds temporary support near 0.6040The NZD/USD pair finds some buying interest after posting a fresh almost two-month low near 0.6040 on Wednesday.
Read more »