NZD/USD attracts some buyers above the 0.5900 mark ahead of the New Zealand CPI
The post NZD/USD attracts some buyers above the 0.5900 mark ahead of the New Zealand CPI appeared on BitcoinEthereumNews.com. NZD/USD kicks off the new week on a positive note above the 0.5900 mark on Monday. New Zealand’s Business NZ PSI came in at 50.7 in September vs. 47.1 prior. The escalated geopolitical tensions between Israel and Palestine might boost the safe-haven flow in the US Dollar. Market players await the New Zealand inflation data, US Retail Sales. The NZD/USD pair attracts some buyers during the early Asian trading hours on Monday. Investors await the New Zealand Consumer Price Index (CPI) data due later on Monday. The inflation figures for the third quarter (Q3) quarterly and annually are expected to rise by 2.0% and 5.9%, respectively. The pair currently trades around 0.5909, gaining 0.35% on the day. The latest data on Monday revealed that New Zealand’s Business NZ Performance of Services Index (PSI) came in at 50.7 in September from 47.1 in the previous month. Last week, the nation’s Business NZ Purchasing Manager’s Index (PMI) eased to 45.3 against the previous reading of 46.1. The Reserve Bank of New Zealand (RBNZ) committee agreed that interest rates may need to remain at a restrictive level for a more sustained period of time. However, the New Zealand inflation on Monday at 21.45 GMT could offer hints for the RBNZ’s further interest rate policy. On the other hand, the preliminary US Michigan Consumer Sentiment Index data on Friday fell to 63.0 from 68.1 the previous month, below the market consensus of 67.4. Meanwhile, one-year Inflation expectations climbed from 3.2% to 3.8%, and five-year inflation estimates jumped from 2.8% to 3%. With the higher inflation expectation and the upbeat inflation data, investors anticipate a possible rate rise by the Federal Reserve (Fed) by the end of the year. The US Consumer Price Index (CPI) annually and monthly for September came in at 3.7% and…
The post NZD/USD attracts some buyers above the 0.5900 mark ahead of the New Zealand CPI appeared on BitcoinEthereumNews.com.
NZD/USD kicks off the new week on a positive note above the 0.5900 mark on Monday. New Zealand’s Business NZ PSI came in at 50.7 in September vs. 47.1 prior. The escalated geopolitical tensions between Israel and Palestine might boost the safe-haven flow in the US Dollar. Market players await the New Zealand inflation data, US Retail Sales. The NZD/USD pair attracts some buyers during the early Asian trading hours on Monday. Investors await the New Zealand Consumer Price Index (CPI) data due later on Monday. The inflation figures for the third quarter (Q3) quarterly and annually are expected to rise by 2.0% and 5.9%, respectively. The pair currently trades around 0.5909, gaining 0.35% on the day. The latest data on Monday revealed that New Zealand’s Business NZ Performance of Services Index (PSI) came in at 50.7 in September from 47.1 in the previous month. Last week, the nation’s Business NZ Purchasing Manager’s Index (PMI) eased to 45.3 against the previous reading of 46.1. The Reserve Bank of New Zealand (RBNZ) committee agreed that interest rates may need to remain at a restrictive level for a more sustained period of time. However, the New Zealand inflation on Monday at 21.45 GMT could offer hints for the RBNZ’s further interest rate policy. On the other hand, the preliminary US Michigan Consumer Sentiment Index data on Friday fell to 63.0 from 68.1 the previous month, below the market consensus of 67.4. Meanwhile, one-year Inflation expectations climbed from 3.2% to 3.8%, and five-year inflation estimates jumped from 2.8% to 3%. With the higher inflation expectation and the upbeat inflation data, investors anticipate a possible rate rise by the Federal Reserve (Fed) by the end of the year. The US Consumer Price Index (CPI) annually and monthly for September came in at 3.7% and…
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