Bearish
NZD/USD dips below 0.5950, hitting a fresh weekly low as USD strengthens
The NZD/USD pair declined to a fresh weekly low around 0.5945, influenced by a strengthening US Dollar ahead of the upcoming US Personal Consumption Expenditures (PCE) Price Index release. Despite this, the Reserve Bank of New Zealand's (RBNZ) hawkish stance may provide support for the Kiwi.
Key points
- NZD/USD falls below 0.5950, reaching a fresh weekly low as USD gains ahead of US PCE data.
- Improved risk sentiment, bolstered by reports of a US-Iran ceasefire, supports the risk-sensitive Kiwi.
- Upcoming US Initial Jobless Claims and New Zealand's ANZ–Roy Morgan Consumer Confidence data may influence NZD/USD movements.
Sources
AI-generated from public news sources. Not financial advice.
