NZD/USD rises despite solid US data NZDUSD Majors Currencies
cision, the US reported robust data which could limit the pair’s upside. On the Kiwi’s side, the NZD seem to be strengthening on the Chinese announcement of an economic support package that would benefit the Asian block.The US reported solid Housing and Consumer Confidence data from July. The Conference Board reported that individuals' confidence in economic activity jumped to 117, above the expected 112 and the previous 109.7.
Ahead of the Federal Reserve two-day meeting, markets await a 25 basis point hike and data-dependant approach by Chair Powell, as a robust economy and a tight labour market may make the Federal Open Market Committee consider another hike in September. In the meantime, the USD DXY Index continued to rise to 101.60 but then retreated towards 101.40, still holding gains while US Treasury yields traded mixed, with the 2-year rate slightly decreased to 4.90%.The outlook is tilted to the downside despite the pair tallying a two-day winning strike, according to the daily. The Relative Strength Index stands below its midline while the Moving Average Convergence prints rising red bars.
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