The NZD/USD pair recovers sharply after plunging to near 0.5910 in Wednesday’s American session. The Kiwi asset bounces back as the US Dollar (USD) corrects sharply after mix United States (US) S&P Global flash PMI data for July. The Manufacturing PMI surprisingly contracted, while the Services PMI expanded at a faster pace. The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, declines from a fresh weekly high of 104.50.
Despite a decent recovery in the Kiwi asset, its near-term outlook remains vulnerable. The New Zealand Dollar (NZD) has delivered a negative closing against the US Dollar for four trading sessions in a row till Tuesday. Though the major has bounced back it is still in losses.
The Kiwi dollar has remained under pressure due to growing speculation that the Reserve Bank of New Zealand (RBNZ) will begin reducing interest rates this year. The expectations for early rate cuts have been prompted by easing price pressures. In the second quarter, inflationary pressures grew at a slower pace of 0.4% from the estimates and the former release of 0.6%. Annually, the price index has decelerated sharply to 3.5%.
면책 조항: 본 게시글에 표현된 견해는 전적으로 작성자의 견해이며 Followme의 공식 입장을 대변하지 않습니다. Followme는 제공된 정보의 정확성, 완전성 또는 신뢰성에 대해 책임을 지지 않으며, 서면으로 명시적으로 언급되지 않는 한 해당 내용을 기반으로 취해진 어떠한 조치에 대해서도 책임을 지지 않습니다.
