NZD/USD recovery loses steam at 0.5980
The post NZD/USD recovery loses steam at 0.5980 appeared on BitcoinEthereumNews.com. -New Zealand Dollar’s recovery is losing steam right below the 0.6000 psychological level. A hawkish cut by the RBNZ boosted the Kiwi’s recovery during Wednesday’s Asian session. -A strong US Dollar, buoyed by upbeat US data and easing trade fears, is supporting the US Dollar. The New Zealand Dollar is paring some losses on Wednesday after having lost more than 1% on Tuesday. A hawkish RBNZ statement has provided some support to the Kiwi, but the overall USD strength is limiting upside attempts. The bank trimmed rates by 0.25% earlier today, to 3.25% as widely expected. This is its fifth consecutive cut from the 5.5% peak level in August last year. The RBNZ delivers a hawkish cut RBNZ’s acting Governour Hawkesby surprised investors, stating that the bank has lowered rates a considerable way and that they might now be close to neutral. These comments revealed a significant tone change from the previous meeting and triggered a sharp NZD rebound on Wednesday’s Asian session. The pair, however, is losing momentum as it nears the 0.6000 psychological level, weighed by a firm US Dollar. The Grenback is trading higher across the board, as strong Consumer Confidence figures and easing concerns about trade wars have offset US debt woes, at least for now. The US Dollar Index, which measures the value of the ISD against a basket of the world’s most traded currencies, has bounced about 1% higher over the last trading sessions. The focus now is on the minutes of the last Fed meeting, due later today, which will frame Friday’s all-important US PCE inflation release. RBNZ FAQs The Reserve Bank of New Zealand (RBNZ) is the country’s central bank. Its economic objectives are achieving and maintaining price stability – achieved when inflation, measured by the Consumer Price Index (CPI), falls within…
The post NZD/USD recovery loses steam at 0.5980 appeared on BitcoinEthereumNews.com.
-New Zealand Dollar’s recovery is losing steam right below the 0.6000 psychological level. A hawkish cut by the RBNZ boosted the Kiwi’s recovery during Wednesday’s Asian session. -A strong US Dollar, buoyed by upbeat US data and easing trade fears, is supporting the US Dollar. The New Zealand Dollar is paring some losses on Wednesday after having lost more than 1% on Tuesday. A hawkish RBNZ statement has provided some support to the Kiwi, but the overall USD strength is limiting upside attempts. The bank trimmed rates by 0.25% earlier today, to 3.25% as widely expected. This is its fifth consecutive cut from the 5.5% peak level in August last year. The RBNZ delivers a hawkish cut RBNZ’s acting Governour Hawkesby surprised investors, stating that the bank has lowered rates a considerable way and that they might now be close to neutral. These comments revealed a significant tone change from the previous meeting and triggered a sharp NZD rebound on Wednesday’s Asian session. The pair, however, is losing momentum as it nears the 0.6000 psychological level, weighed by a firm US Dollar. The Grenback is trading higher across the board, as strong Consumer Confidence figures and easing concerns about trade wars have offset US debt woes, at least for now. The US Dollar Index, which measures the value of the ISD against a basket of the world’s most traded currencies, has bounced about 1% higher over the last trading sessions. The focus now is on the minutes of the last Fed meeting, due later today, which will frame Friday’s all-important US PCE inflation release. RBNZ FAQs The Reserve Bank of New Zealand (RBNZ) is the country’s central bank. Its economic objectives are achieving and maintaining price stability – achieved when inflation, measured by the Consumer Price Index (CPI), falls within…
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