NZD/USD drops to two-week lows after upbeat US Retail Sales, clings to 0.5900
The post NZD/USD drops to two-week lows after upbeat US Retail Sales, clings to 0.5900 appeared on BitcoinEthereumNews.com. NZD/USD bounces off a two-week low, trading around 0.5908. US Retail Sales for September surpass expectations; Industrial Production also beats forecasts. New Zealand’s Q3 CPI comes in below estimates, with a yearly rate easing to 5.6%. The New Zealand Dollar (NZD) remains defensive against the US Dollar (USD) and registers solid losses after dropping to a two-week low of 0.5870. However, buyers reclaim the 0.5900 figure, targeting a challenge of 0.5942, the 50-day moving average (DMA). At the time of writing, the NZD/USD is trading at 0.5908. Kiwi Dollar reclaims 0.5900amid mixed economic data, eyes on Fed policymakers The US Dollar stages a comeback after the US Bureau of Economic Analysis (BEA) revealed that Retail Sales rose above forecasts of 0.3%, at 0.7% MoM in September, though below upward revised August’s figures from 0.6% to 0.8%. Recently, the Fed revealed that Industrial Production exceeded forecast and August’s data of 0%, expanding at a 0.3% MoM pace. Consequently, US Treasury bond yields advanced nine basis points at 4.80%, contrary to the Greenback as seen by the US Dollar Index (DXY). The DXY, which tracks the performance of the US Dollar vs. six currencies, drops 0.15%, at 106.05. Meanwhile, Fed officials are crossing newswires, led by Richmond Fed President Thomas Barkin, saying the Fed has a restrictive policy stance and that despite longer-term rates having risen, the Fed can’t rely on them for further tightening. Barkin added that he’s unsure of his view on the upcoming monetary policy meeting. Earlier in the Asian session, the New Zealand docket featured the Consumer Price Index (CPI), which rose by 1.8% in Q3, below estimates of 2%. Still, the yearly rate eased to 5.6% from 6%, the estimated 5.9%. NZD/USD Price Analysis: Technical outlook The NZD/SUD daily chart portrays the pair jumping off the weekly…
The post NZD/USD drops to two-week lows after upbeat US Retail Sales, clings to 0.5900 appeared on BitcoinEthereumNews.com.
NZD/USD bounces off a two-week low, trading around 0.5908. US Retail Sales for September surpass expectations; Industrial Production also beats forecasts. New Zealand’s Q3 CPI comes in below estimates, with a yearly rate easing to 5.6%. The New Zealand Dollar (NZD) remains defensive against the US Dollar (USD) and registers solid losses after dropping to a two-week low of 0.5870. However, buyers reclaim the 0.5900 figure, targeting a challenge of 0.5942, the 50-day moving average (DMA). At the time of writing, the NZD/USD is trading at 0.5908. Kiwi Dollar reclaims 0.5900amid mixed economic data, eyes on Fed policymakers The US Dollar stages a comeback after the US Bureau of Economic Analysis (BEA) revealed that Retail Sales rose above forecasts of 0.3%, at 0.7% MoM in September, though below upward revised August’s figures from 0.6% to 0.8%. Recently, the Fed revealed that Industrial Production exceeded forecast and August’s data of 0%, expanding at a 0.3% MoM pace. Consequently, US Treasury bond yields advanced nine basis points at 4.80%, contrary to the Greenback as seen by the US Dollar Index (DXY). The DXY, which tracks the performance of the US Dollar vs. six currencies, drops 0.15%, at 106.05. Meanwhile, Fed officials are crossing newswires, led by Richmond Fed President Thomas Barkin, saying the Fed has a restrictive policy stance and that despite longer-term rates having risen, the Fed can’t rely on them for further tightening. Barkin added that he’s unsure of his view on the upcoming monetary policy meeting. Earlier in the Asian session, the New Zealand docket featured the Consumer Price Index (CPI), which rose by 1.8% in Q3, below estimates of 2%. Still, the yearly rate eased to 5.6% from 6%, the estimated 5.9%. NZD/USD Price Analysis: Technical outlook The NZD/SUD daily chart portrays the pair jumping off the weekly…
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