NZD/USD recovery approaches 0.6150 as risk-aversion ebbs, China GDP, US Retail Sales eyed – by anilpanchal7 NZDUSD Fed Recession Inflation RiskAppetite
That said, New Zealand’s Business NZ PMI for June marked the lowest reading since August 2021 while flashing 49.7 figures. In doing so, the activity gauge dropped below 52.7 market forecast and 52.9 prior.
Among important Fed speakers were St. Louis Federal Reserve President James Bullard and Federal Reserve Governor Christopher Waller. That said, Fed’s Bullard said, "So far, we've framed this mostly as 50 versus 75 at this meeting." On the same line, Fed’s Waller mentioned that markets may have gotten ahead of themselves by pricing a 100 basis points rate hike in July, as reported by Reuters.
On the same line is the CME’s FedWatch tool that signals a nearly 52% chance of the Fed’s 75 bps rate hike in July versus showing an almost certain case for the said rate lift the previous day.
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