NZD/USD retreats after hitting a weekly high of 0.6055 due to a mixed market impulse witnessed in the North American session that bolstered appetite f
NZD/USD recoils to 0.6021 after reaching a weekly peak, influenced by a strengthening USD. US PPI data exceeds expectations, introducing a complex layer to the ongoing inflation dialogue. Contrasting stances among Fed officials and RBNZ’s rate would keep NZD/USD traders uncertain. or the Greenback . Speculations of the US Federal Reserve forgetting a rate hike, as dovish comments and neutral postures amongst officials emerged. The pair exchanges hands at around 0.6021.
Given the backdrop, money market futures do not expect another rate hike by the Fed, as shown by the CME FedWatch Tool. On the New Zealand front, the Reserve Bank of New Zealand's decision to keep rates unchanged at 5.5% could undermine its appeal. The RBNZ said that rates need to be maintained at a restrictive level. NZD/USD Price Analysis: Technical outlook The NZD/USD daily chart portrays the pair as neutral to downward biased after testing the latest cycle high of 0.
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