NZD/USD whipsaws around 0.6370 despite firmer China CPI, focus on US inflation – by anilpanchal7 NZDUSD Inflation CPI RiskAppetite Currencies
re the recent mixed signs from China’s Consumer Price Index and Producer Price Index data for December, flashed early Thursday.Producer Price Index
marked -0.7% yearly figures compared to -1.3% previous readings and -0.1% market forecasts. Earlier in the day, New Zealand’s Building Permits for November rallied 7% MoM versus -0.1% market forecasts and -10.7% prior slump. It’s worth noting that the Fed policymakers’ hesitance in praising the market’s dovish bias contrasts with the cautious mood ahead of the key US inflation data to challenge the NZD/USD traders. However, China-linked optimism and upbeat housing figures at home put a floor under the prices.of Boston President Susan Collins backed the smaller rate increases while stating that she leans at this stage to a 25 bps hike. The policy, however, also mentioned that it is very data-dependent.
Against this backdrop, US equities were on the front foot and yields were down while the S&P 500 Futures and the US 10-year Treasury bond yields remain indecision by the press time. Given the market’s indecision ahead of the US CPI data, the NZD/USD traders may witness further lackluster moves before the inflation release. That said, expectations of softer US inflation keep traders on the edge as the US data has a history of disappointing market forecasts, especially when they’re too important.NZD/USD buyers remain hopeful as the pair defends Friday’s upside break of the one-month-old descending resistance line, now support, as well as the 200-SMA, respectively around 0.
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 bulls are tiring ahead of US CPI as the main eventNZD/USD is heading into the end of the North American session flat on the day so far, giving kudos to the prior technical analysis, NZD/USD Price Anal
Read more »
NZD/USD edges higher amid softer USD, remains below 0.6400 as traders await US CPINZD/USD edges higher amid softer USD, remains below 0.6400 as traders await US CPI – by hareshmenghani NZDUSD RiskAppetite Fed Inflation Currencies
Read more »
NZD/USD hovers around 0.6360s in choppy trading, eyeing US CPIThe NZD/USD prints successive series of doji’s, suggesting that neither buyers nor sellers are in charge, ahead of Thursday’s US Consumer Price Index
Read more »
NZD/USD Price Analysis: Kiwi drops from 0.6400 amid ease in risk-on moodThe NZD/USD pair has corrected to near 0.6370 after sensing selling pressure near the round-level resistance of 0.6400 in the Asian session. The Kiwi
Read more »
NZD/USD: Upbeat options market signals probe bears below 0.6400NZD/USD pares intraday gains around 0.6375 during early Tuesday as options market signals put a floor under the Kiwi prices even if the US Dollar stre
Read more »
NZD/USD Price Analysis: Dribbles inside weekly triangle below 0.6400NZD/USD makes rounds to 0.6370-75 during early Wednesday, after snapping a two-day uptrend near a monthly top the previous day. In doing so, the Kiwi
Read more »