NZD/USD stays defensive above 0.6300 amid New Zealand holiday, Fed’s Powell eyed – by anilpanchal7 NZDUSD RiskAppetite Fed Currencies China
Markets in New Zealand are off due to Waitangi Day celebration.Light calendar in NZ emphasizes Fed Chair Powell’s reaction to recent hawkish market signals for fresh impulse.
Market sentiment worsens amid strong US data renewing hawkish bias for the Federal Reserve , as well as due to the geopolitical tension surrounding China. Other than the headline US job numbers, the rebound in the US ISM Services PMI from 49.2 to 55.2, versus 50.4 expected, also underpinned the rebound in theTreasury bond yields and the US Dollar. That said, the benchmark US 10-year Treasury bond yields jumped the most since late September 2022 to regain 3.52% level by the volatile week’s end.
While portraying the mood, S&P 500 Futures drops 0.40% while the US 10-year Treasury bond yields remain sluggish near 3.52% by the press time.
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