NZD/USD is being pressured from the strengthening US dollar.

Create at 9 months ago (Jan 24, 2024 13:03)

New Zealand's inflation rate has eased to 5.6% annually from 4.7% in the fourth quarter but remains higher than the Reserve Bank of New Zealand's (RBNZ) target of 1-3%. This increases the possibility of the RBNZ cutting interest rates in the short term.

 

The US Federal Reserve (Fed) has not shown signs of an imminent interest rate cut as the US economy continues to recover. Additionally, there are risks arising from geopolitical tensions in the Middle East that could escalate.

 

Investors are awaiting the announcement of the fourth-quarter GDP and Core PCE (Personal Consumption Expenditures) data. Furthermore, the stable PMI of the United States and the interesting yields on US Treasury bonds contribute to the downward pressure on the NZD/USD.

 

Source: Fxstreet
 
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Today last price 0.6091
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