NZD/USD is under pressure in a sea of red for equities By ross_burland NZDUSD Equities Currencies Fed China
China’s COVID-19 outbreaks have darkened the outlook for risk sentiment on Monday. Reuters has reported that Shanghai is tightening its already strict COVID-19 lockdown in a fresh push to eliminate infections outside quarantined areas of China’s biggest city by late this month.
''While NZD volatility has died down compared to the 24hrs after the Fed meeting, high volatility is still being seen in bond markets, with US bond yields edging another notch higher following stronger jobs data,'' analysts at ANZ Bank said. ''It is hard to anticipate any let-up in generalised volatility given this week’s data schedule, with US''Risks around US CPI feel binary,'' the analysts at ANZ Bank said. ''A moderation from 8.5% would be mildly comforting, but a lift would doubtless revive expectations for 75bp Fed hikes, and probably give the USD a boost.
Meanwhile, there will also be Fed speakers this week. Governor Christopher Waller and New York Fed's John Williams could be important.
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