NZD/USD slides towards 0.6100 amid fears of downbeat NZ Consumption, higher Fed rates – by anilpanchal7 NZDUSD RiskAppetite RBNZ Fed Inflation
Downbeat NZ Retail Sales, comments from RBNZ’s Conway keep bears hopeful.US Durable Goods Orders, risk catalysts eyed for fresh impulse.bears keep the reins at the lowest levels since November 2022, down half a percent near 0.6130 during early Monday, as downbeat New Zealand catalysts contrast with the US Dollar demand.
That said, NZ Retail Sales marked -0.6% QoQ figure for the fourth quarter earlier in the day, versus 1.5% expected and 0.4% prior. rise, I expect consumption to slow.” Meanwhile, strong US inflation-linked data joined the Fed policymakers’ support for higher rates to propel thefund futures to above 5.30%, versus 5.10% expected by the US central bank in December. The same joins the latest bout of sanctions on Russia from the West to escalate the market’s fears of more geopolitical tension, which in turn underpins the US Dollar’s haven demand. renews its intraday high around 105.
Moving ahead, the US Durable Goods Orders for January, expected -4.0% versus 5.6% prior, will be important to watch for clear directions ahead of Wednesday’s official activity data from China.A daily closing below the 200-DMA, around 0.6170 by the press time, directs NZD/USD bears towards July 2022 low near 0.6060.
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