The NZD/USD pair trades on a stronger note below the 0.6100 mark during the early Asian session on Thursday.
NZD/USD gains ground around 0.6090 on the weaker USD. New Zealand's GDP for Q4 came in at -0.1% QoQ vs. -0.3% prior, weaker than expected. The Fed held interest rates steady at its March meeting on Wednesday, as widely expected. The US S&P Global PMI for March will be due on Thursday. The decline of the US Dollar after the Federal Reserve left its interest rates unchanged and Fed Chair Jerome Powell delivered a dovish message to provide some support to the pair.
During the press conference, Fed Chair Jerome Powell stated that a strong labour market Data wouldn’t deter the central bank from cutting rates. Powell emphasized that the central bank will wait for more data that inflation is sustainably moderating toward its 2% target. Furthermore, Fed’s Powell reiterated that policymakers still intend to cut rates before the end of this year, given economic growth continues.
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 IG Client Sentiment: Our data shows traders are now net-short NZD/USD for the first time since Feb 27, 2024 18:00 GMT when NZD/USD traded near 0.62.Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger NZD/USD-bullish contrarian trading bias.
Read more »
NZD/USD sticks to modest gains after Chinese macro data, remains below 0.6100 markThe NZD/USD pair finds some support in the vicinity of the very important 200-day Simple Moving Average (SMA) and stages a modest recovery from a one-and-half-week low, around the 0.6080 region touched during the Asian session on Monday.
Read more »
NZD/USD Price Analysis: Finds support below 0.6100 on upbeat China dataThe NZD/USD pair finds a temporary cushion near 0.6080 in Monday’s European session after a sharp sell-off in the last two trading sessions.
Read more »
New Zealand EV Market Seeks New Normal — Dips to 4.1%New Zealand EV market seeks new normal as it recovers from government policy changes which include a Road User Charge.
Read more »
NZD/USD posts modest gains above the mid-0.6100s, US Retail Sales eyedThe NZD/USD pair trades strongly above the mid-0.6100s during the early Asian session on Thursday.
Read more »
NZD/USD Price Analysis: Bears assert their dominance, eyes on a possible short-term momentum shiftIn Monday's trading, NZD/USD remained largely unchanged around 0.6085 while the pair showed ongoing sell-off pressure.
Read more »