NZD/USD drifts lower for the second straight day and is pressured by a combination of factors. The dismal New Zealand jobs data and China’s Caixin manufacturing PMI weigh on the Kiwi. Hawkish Fed expectations and elevated US bond yields continue to underpin the Greenback. The USD bulls now look to the US macro data for some impetus ahead of the FOMC decision. 5800 mark during the Asian session, hitting a fresh weekly low in reaction to the disappointing Chinese data.
The Federal Reserve (Fed) is widely expected to maintain the status quo for the second time in a row. Investors, however, seem convinced that the US central bank will keep the door open for additional rate hikes to bring inflation back to the 2% target. Moreover, the US economic resilience should allow the Fed to stick to its hawkish stance.
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NZD/USD moves below 0.5850 as Greenback rebounds, awaits Fed decisionNZD/USD pulls back as the US Dollar (USD) rebounds after two days of losses, trading lower near 0. Read more ⮕
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NZD/USD gains ground near 0.5820 after recent lossesNZD/USD recovers the recent losses, trading near 0.5820 during the Asian session on Monday. The NZD/USD pair gains ground, benefiting from a relativel Read more ⮕
NZD/USD holds onto gains above 0.5800 ahead of Fed policyThe NZD/USD pair clings to gains after a significant recovery from 11-month low around 0.5770. The Kiwi asset oscillates above 0.5800 as the focus shi Read more ⮕