NZD/USD conquers 0.6400 amidst a risk-off mood, post US NFP report – by christianborjon NZDUSD Majors Macroeconomics Technical Analysis
suggested the Federal Reserve might need to keep hiking rates to ease a contracted labor market, though it failed to underpin the US Dollar. Therefore, the NZD/USD is trading at 0.6404, above its opening price by 0.54%.
Following the November employment report, the Federal Reserve would need to continue tightening borrowing costs, albeit on 50 bps sizes. In the last monetary policy press conference, Fed Chairsaid that the pace of tightening it’s not as important as how high the Federal Funds rate needs to be. Some Fed policymakers had forecasted the FFR to end at around 5% to 5.25%.
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