The New Zealand Dollar rises on positive risk appetite. Risky assets rise on hopes of central banks cutting interest rates. The RBNZ has not committed to cutting rates, however, as inflation remains high despite slow growth. The New Zealand Dollar is trading higher in its most traded pairs on Tuesday as markets adopt a positive risk tone, benefiting commodity currencies like the New Zealand Dollar over safe havens.
If so, NZD/USD could be unfolding in the final wave C of the pattern, which could stretch to a long-term target at 0.5864, where wave C is equal to wave A. Only a break above the 0.6107 March 21 high would bring into doubt the bearish bias. New Zealand Dollar FAQs What key factors drive the New Zealand Dollar? The New Zealand Dollar , also known as the Kiwi, is a well-known traded currency among investors.
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New Zealand Dollar Declines as US Data Suggests Elevated Price PressuresThe New Zealand Dollar (NZD) is trading lower in its NZD/USD pair on Thursday after the release of US macroeconomic data suggests price pressures are likely to remain elevated. Producer Prices (PPI) for February came out higher than economist’s forecasted, according to data from US Bureau of Labour Statistics. It suggests inflation is likely to remain stubbornly high in the US, forcing the Federal Reserve to keep interest rates at their current level for longer, and scotching hopes of an early interest-rate cut. Higher interest rates are generally positive for a currency because they attract more inflows of foreign capital, so the data weighed on the NZD/USD pair, which measures the buying power of one New Zealand Dollar in US Dollar (USD) terms.
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New Zealand Dollar falls over half a percent on negative economic outlookThe New Zealand Dollar (NZD) is trading lower in most pairs, and is down by over half a percent against the US Dollar (USD) at just above 0.6000 on Friday, as a sluggish economic outlook weighs on the NZD.
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