NZD/USD traders await the RBNZ – by fx_ross NZDUSD Currencies DollarIndex RBNZ RBA
RBNZ is going to be the main scheduled event for the day ahead.
The New Zealand Dollar rallied to the highest levels in over six weeks, amid a weakening US Dollar and poor US data. At the time of writing, NZD/USD is sitting in the 0.63 area, although as analysts at ANZ Bank said, ´´it is struggling to capitalize on the freefall in the USD DXY in the wake of soft JOLTS jobs data there, and fresh financial instability fears.´´
The greenback was pressured after a plunge in US factory activity raised concerns over slowing economic growth. The US manufacturing PMI fell in March to the lowest since May of 2020. US factory orders declined for a second straight month, down 0.7% in February after falling 2.1% in January from the 1.7% jump in December. This data comes on the heels of the Institute for Supply Management that yesterday reported that its Manufacturing PMI fell to 46.3 last month.
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