NZD/USD steadies near 0.5650 ahead of China/US statistics – by anilpanchal7 NZDUSD China Coronavirus RiskAppetite Fed
ple theories surrounding the quote’s previous run-up despite the firmer US inflation data, the kiwi pair’s latest inaction could be linked to a cautious mood ahead of the key economics from China and the US.
Additionally, the recently released New Zealand Business NZ PMI also challenges the NZD/USD buyers while easing to 52.0 in September versus 52.5 expected and 54.9 prior. US Dollar Index failed to cheer the 40-year high US Core CPI the previous day, which in turn gained the major attention of the NZD/USD buyers. The reason could be linked to the headline Consumer Price Index third consecutive softer print. That said, the DXY dropped 0.70% to 112.45 by the end of Thursday’s North American session. It’s worth noting that the US CPI rose to 8.2% versus 8.1% market forecasts but eased as compared to the 8.3% prior.
Alternatively, the recent jump in covid cases in China and Europe, as well as fresh lockdowns in Shanghai and increased hardships in Hong Kong, as well as Beijing, should have weighed on the pair but did not. Amid these plays, Wall Street closed positive and the yields were up too. Moving on, China’s headlines CPI for September, expected 2.8% YoY versus 2.5% prior, will be important for the NZD/USD traders amid fears of more hardships for the dragon nation. Also on the Asianare the September month trade numbers from the dragon nation. Following that, the US Retail Sales for September, the preliminary readings of the Michigan Consumer Sentiment Index and the University of Michigan’s 5-year Consumer Inflation Expectations for October will be crucial for clear directions.
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.
NZD/USD climbs steadily towards 0.5600 ahead of US CPI figuresThe NZD/USD recovers some ground, extending its gains to two consecutive days, amidst a fragile sentiment, with US equities swinging between gains and
Read more »
NZD/USD bulls eye recent highs in the 0.5650sNZD/USD is a touch higher in Asia, printing 0.5590 in a 0.15% move from the session lows of 0.5575 as traders move in on the US dollar as US bond yiel
Read more »
AUD/USD buyers flirt with 0.6300 preceding key China/US consumer-centric dataAUD/USD steadies near 0.6300, after a tragic rebound from the 2.5-year low, as traders await data from the key customer China during early Friday in A
Read more »
US Dollar Technical Outlook for the Week Ahead: USD/SGD, USD/THB, USD/PHP, USD/IDRThe US Dollar traded mostly flat against ASEAN currencies this past week. What is the technical road ahead for USD/SGD, USD/THB, USD/PHP and USD/IDR? Get your market update from ddubrovskyFX here:
Read more »
EUR/USD steadies near 0.9700 as German Inflation matches initial forecasts, US CPI eyedEUR/USD remains sidelined around 0.9700, recently picking up bids, even as Germany’s inflation numbers match upbeat forecasts during early Thursday. I
Read more »