The New Zealand Dollar extends its upside in Wednesday’s early Asian session.
The softer US Dollar and positive risk sentiment support NZD/USD.
Investors will focus on the first reading of US August S&P Global PMI on Wednesday.
The New Zealand Dollar (NZD) edges higher on Wednesday as the USD Index (DXY) extended its decline to near yearly lows. The improved risk sentiment after China rolled out further measures to support the real estate sector boosts the Kiwi as China is New Zealand's largest trading partner.
On the other hand, the dovish remarks from the Reserve Bank of New Zealand (RBNZ) after a surprise rate cut last week might limit the pair’s upside. Investors will keep an eye on the preliminary US S&P Global PMI for August, which is due on Wednesday. All eyes will be on Fed Chair Powell's speech at the Jackson Hole symposium on Friday. Any dovish comments from Powell are likely to undermine the USD and create a tailwind for NZD/USD.
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.
