NZD/USD slips to fresh two week lows below 0.6250 on soft US economic data

The New Zealand dollar tumbles courtesy of a negative market mood and a bid US dollar. US June’s CB Consumer Confidence dipped to a 10-year low on US citizens’ concerns about high inflation and slower growth. The US Dollar Index is back above the 104,000 thresholds, courtesy of quarter and month-end flows. The NZD/USD ticks … Read more

NZD/USD struggles for a firm direction, stuck in a range around 0.6300 mark

NZD/USD struggled to gain any meaningful traction and oscillated in a familiar trading range. The cautious mood acted as a headwind for the risk-sensitive kiwi amid a modest USD uptick. Reduced bets for more aggressive Fed rate hikes might cap the USD and lend some support. The NZD/USD pair extended its sideways price moves for … Read more

NZD/USD rises above 0.6300 on an upbeat market mood and a soft US dollar

The NZD/USD erased early week losses and finished the week flat. On Friday, recession fears abated, but growing risks remain skewed to the downside. st. Louis Fed’s Bullard commented that the US economy is fine and that recession worries are exaggerated. The New Zealand dollar recorded solid gains vs. the greenback, snapping two days of … Read more

New Zealand’s Fonterra to pay farmers higher prices for milk in FY 2022/23

to Reuters, New Zealand’s Fonterra said on Thursday that it is likely to pay a higher price to farmers for milk supply for the next fiscal year, courtesy of a jump in dairy demand and the appreciation in the US dollar. “The world’s biggest dairy exporter expects to pay between NZ$8.75 and NZ$10.25 ($5.49 and … Read more

NZD/USD sticks to intraday gains, bulls flirt with 0.6360-70 resistance zone

A combination of supporting factors pushed NZD/USD higher for the second straight day. The risk-on impulse generald the safe-haven USD and benefitted the risk-sensitive kiwi. Hawkish Fed expectations, rising US bond yields to limit the USD losses and cap the major. The NZD/USD pair attracted some buyers for the second straight day on Tuesday and … Read more

Further upside hinges on 0.6355 breakout

NZD/USD extends recovery from 200-HMA towards nearby resistance line. Firmer RSI, sustained trading above weekly support line and 100-HMA favor buyers. Bulls keep their eyes on 0.6430 before eyeing the monthly top. NZD/USD refreshes intraday high around 0.6345 while stretching the week-start rebound from the 200-HMA during early Tuesday morning in Europe. In doing so, … Read more

NZD/USD floats above 0.6300 on firmer NZ data, focus on PBOC, Fed’s Powell

NZD/USD stays defensive after three-week downtrend, pares recent losses during a quiet session. New Zealand Business PSI rose past 52.2 prior to 55.2 in May. Hawkish Fed, recession fears favor US dollar, news from China probe Kiwi bears. Light calendar highlights the risk catalysts for fresh impulse. NZD/USD grinds higher around 0.6320 while consolidating the … Read more