NZD/USD sticks to intraday gains, remains below mid-0.6200s amid modest USD strength – by hareshmenghani NZDUSD Recession RBNZ Fed Currencies
sticks to its modest gains around the mid-0.6200s through the mid-European session, though seems to struggle to build on Friday's bounce from the very important 200-day SMA.
A combination of supporting factors assists the US Dollar to hold steady just below a six-week high set on Friday, which, in turn, caps the upside for the NZD/USD pair. The prospects for further policy tightening by thecontinue to act as a tailwind for the US Dollar. Apart from this, a generally weaker tone around the equity markets further benefits the Greenback's relative safe-haven status and keeps a lid on the risk-sensitive Kiwi.
In fact, the markets seem convinced that the US central bank will stick to its hawkish stance and have been pricing in at least a 25 bps lift-off at the next two FOMC meetings in March and May. The bets were reaffirmed by the US CPI and PPI data last week, which showed that inflation isn't coming down quite as fast as hoped.
Traders also seem reluctant to place aggressive bets amid relatively thin volumes on the back of the President Day's holiday in the US and ahead of this week's key event risks. The Reserve Bank of New Zealand is scheduled to announce its
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Pairs in Focus This Week \u2013 GBP/USD, EUR/USD, NZD/USDGet the Forex Forecast using fundamentals, sentiment, and technical position analyses for major pairs for the week of February 19th, 2022 here.
Read more »
NZD/USD drops to near 0.6320 at open as focus shifts to PBOC rate decisionThe NZD/USD pair has dropped to near 0.6320 in the opening session on Monday as the market sentiment has got heated. The warning from the US ambassado
Read more »
NZD/USD Price Analysis: Bulls eye a run past 0.6280, bears flex at 61.8% FiboAs per prior analysis, NZD/USD bears are waiting to move in to keep pressures on below 0.6300, the price dropped as per the forecast following the spe
Read more »
NZD/USD grinds near 0.6250 with eyes on RBNZ, Fed MinutesNZD/USD seesaws around 0.6240 as it struggles to push back the bearish bias after a four-day losing streak, keeping the bounce off six-week low during
Read more »
NZD/USD will be hypersensitive to the RBNZ’s decision and tone – ANZNZD/USD ended the week back above 0.62. This week is all about the RBNZ and the impact of cyclone Gabrielle, economists at ANZ Bank report. Fall in th
Read more »
GBP/USD surrenders modest intraday gains amid modest USD uptick, holds above 1.2000 markGBP/USD surrenders modest intraday gains amid modest USD uptick, holds above 1.2000 mark – by hareshmenghani GBPUSD Recession Fed BOE Currencies
Read more »