NZD/USD

The New Zealand Dollar (NZD) keeps depreciating against the US Dollar (USD) on Thursday, hammered by a perfect storm of risk aversion, high Oil prices, and escalating US Treasury yields that have boosted the Greenback across the board.

• NZDUSD declined due to U.S. Dollar strength and wider yield differentials. • New Zealand faced domestic economic sluggishness and election-related political uncertainty. • Technical indicators including MACD, RSI, and Williams %R suggest selling conditions.

The NZD/USD pair loses momentum to near 0.5615 during the early European trading hours on Thursday. The New Zealand Dollar (NZD) weakens against the US Dollar (USD) as the tighter New Zealand election race raises investor fears on policy backflips.

The Kiwi has followed US bond yields all month, and better numbers from New Zealand's biggest export market didn't change that on Wednesday. China's official services index came in at 50.2 against a 49.3 forecast, and the private services and factory gauges beat as well.

NZD/USD gains ground after registering losses in the previous day, trading around 0.5650 during the European hours on Wednesday. The pair gains upward momentum as the US Dollar (USD) weakens following dovish remarks from Federal Reserve Bank of New York President John Williams.

The New Zealand Dollar (NZD) is 0.11% higher at around 0.5645 against the US Dollar (USD) during the Asian trading session on Wednesday. The Kiwi pair gains after discovering cushion near 0.5625 on Tuesday, following a vertical decline in the past few weeks.