The NZD/USD pair extends its losing spree for the fifth trading session on Monday.
NZD/USD slides below 0.6150 as investors turn cautious ahead of RBNZ policy decision. Middle East tensions have kept the risk-aversion theme intact. NZD/USD trades below the 20- and 50-day EMAs. The Kiwi asset weakens on multiple tailwinds: weakens in the New Zealand Dollar amid caution ahead of the Reserve Bank of New Zealand’s monetary policy decision and a firm US Dollar due to waned Fed eral Reserve large rate cut bets for November.
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. Bad news for the Chinese economy likely means less New Zealand exports to the country, hitting the economy and thus its currency.
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