0.584
Today
-0.84%
5 Days
-2.22%
1 Month
-0.85%
6 Months
-2.45%
Year to Date
+1.46%
1 Year
-0.98%
Opening Price
0.589Previous Closing Price
0.589NZD/USD gains ground for the second consecutive day, trading around 0.5840 during the Asian hours on Wednesday.
• The RBNZ raised rates by 25 basis points to 2.75%. • Forward guidance disappointed investors anticipating a more aggressive tightening path. • US dollar strength and dovish New Zealand projections drove NZDUSD lower.
The NZD/USD pair tumbles to near 0.5855 during the Asian trading hours on Wednesday. The New Zealand Dollar (NZD) faces some selling pressure against the US Dollar (USD) after the Reserve Bank of New Zealand (RBNZ) interest rate decision.
• NZDUSD declined due to domestic softness and pre-RNZ decision positioning adjustments. • US Dollar strength was supported by elevated Treasury yields and safe-haven demand. • Technical selling below key support triggered stop-loss orders, extending the pair's decline.
The Reserve Bank of New Zealand (RBNZ) is on track to deliver a follow-through interest rate hike, raising the Official Cash Rate (OCR) by another 25 basis points (bps) from 2.50% to 2.75% on Wednesday.
NZD/USD trades around 0.5900 on Tuesday at the time of writing, down 0.24% on the day. The New Zealand Dollar (NZD) remains under pressure against the US Dollar (USD), which holds onto modest gains despite the release of mixed United States (US) economic data.
The Indicators feature provides value and direction analysis for various instruments under a selection of technical indicators, together with a technical summary.
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The downside prevails as long as 0.5873 is resistance, with 0.5824 and 0.5813 as targets
above 0.5873, look for 0.5891 and 0.5902.
The downside prevails as long as 0.5873 is resistance, with 0.5824 and 0.5813 as targets
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