The NZD/USD pair gains significantly by more than 0.5% but struggles to seize the two-week high of 0.6270 in Thursday’s North American session.
NZD/USD faces pressure to grip a two-week high of 0.6270 due to a decent recovery in the US Dollar. Lower-than-expected US jobless claims data prompted US Dollar’s recovery. The NZ economy contracted at a slower-than-expected pace in the second quarter of this year. The Kiwi asset faces slight pressure as the US Dollar has rebounded after the release of the United States Initial Jobless Claims data for the week ending September.
Its value is broadly determined by the health of the New Zealand economy and the country’s central bank policy. Still, there are some unique particularities that also can make NZD move. The performance of the Chinese economy tends to move the Kiwi because China is New Zealand’s biggest trading partner. Bad news for the Chinese economy likely means less New Zealand exports to the country, hitting the economy and thus its currency.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
NZD/USD slumps from 0.6250 as US Dollar regains groundThe NZD/USD pair drops after facing selling pressure near 0.6250 in Wednesday’s North American session.
Read more »
NZD/USD rises to near 0.6230 as US Dollar falls ahead of US NFPThe NZD/USD pair moves higher to near 0.6230 in Friday’s European session.
Read more »
NZD/USD Price Analysis: Slides further below 0.6150 amid firm US DollarThe NZD/USD pair tumbles below 0.6150 in Monday’s European session.
Read more »
NZD/USD Price Forecast: Holds position above 0.6200 near support at 14-day EMANZD/USD retraces its recent gains, trading around 0.6210 during the Asian hours on Friday.
Read more »
NZD/USD Price Analysis: Technical pullback on the horizon to consolidate gainsThe NZD/USD pair is showing signs of a technical pullback, trading at 0.6235, down 0.25% for the day, with technical indicators suggesting a potential consolidation in the near term.
Read more »
NZD/USD Price Analysis: Technical pullback allows the consolidation of gainsThe NZD/USD pair is consolidating near the 0.6200 support level as bulls take a breather after August's rally.
Read more »