NZD/USD reclaims 0.6100 after a shaky open, US Inflation buzz – by Sagar_Dua24 NZDUSD GDP Inflation China RiskAppetite
A mixed performance is expected from the kiwi GDP data this week.pair is advancing sharply after a shaky open around 0.6080 on Monday. The asset has displayed a vertical upside move, has reclaimed the critical resistance of 0.6100, and is expected to continue its upside journey with significant power. Last week, the kiwi bulls displayed reversal signals after printing a low near the psychological support of 0.6000.. The economic data landed at 2.
A decline in China’s inflation will force the People’s Bank of China to sound dovish and trim the Prime Lending Rate further. And, moreflush into the economy will spurt the volumes in economic activities. It is worth noting that New Zealand is a leading trading partner of China and Chinese economic data makes a decent impact on antipodean.
This week, the kiwi zone will display the Gross Domestic Product data, which is expected to remain mixed. The economic data is seen higher at 0.8% against a contraction of 0.2%, reported in the prior quarter. However, a contraction of 0.2% is expected vs. an expansion of 1.2% on an annual basis. Meanwhile, the US dollar index is marching towards the critical resistance of 109.00 with much confidence and zeal. The asset is expected to remain on the tenterhooks as investors are awaiting the release of the US CPI. The inflationary pressures are expected to scale down to 8.1% vs. 8.5% recorded earlier on an annual basis.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
USD/CAD stay pressured towards 1.3000 amid firmer oil, USD weakness ahead of US inflationUSD/CAD stay pressured towards 1.3000 amid firmer oil, USD weakness ahead of US inflation – by anilpanchal7 USDCAD RiskAppetite Oil Inflation CentralBanks
Read more »
EUR/USD faces barricades around 1.0100, focus shifts to US Inflation dataThe EUR/USD pair has sensed selling interest right after opening around Friday’s high near 1.0100. The asset is expected to turn sideways as it is auc
Read more »
GBP/USD opens with a large gap, eyes on US CPIAfter rallying to a high of 1.1648 on Friday, GBP/USD has gapped from a close of 1.1585 to 1.1640 so far as the US dollar comes under pressure from th
Read more »
Twitter Speechless After Carlos Alcaraz-Frances Tiafoe Semifinal Duel in US OpenCarlos Alcaraz and Frances Tiafoe put on an enthralling show in their semifinal matchup in the 2022 U.S. Open on Friday that had Twitter buzzing.
Read more »
Weekly Forex Forecast - EUR/USD, GBP/USD,USD/JPY,AUD/USDThe EURUSD has rallied a bit during the course of the week to clear the parity level: Forex Forecast Trading
Read more »