The New Zealand Dollar (NZD) trades with a mild bearish bias on Friday amid renewed US Dollar (USD) demand.
The New Zealand Dollar edges lower in Friday’s early Asian session. A fall in New Zealand’s two-year inflation expectations and a firmer US Dollar weigh on the pair. Traders await the Chinese CPI and PPI data, which are due on Friday. The New Zealand Dollar trades with a mild bearish bias on Friday amid renewed US Dollar demand. The Greenback advances to a weekly high as the recent US Initial Jobless Claims ease some fears about the US labor market.
On the downside, the initial support level emerges at 0.5912, a low of August 6. Further south, the additional downside filter to watch is the 0.5850-0.5840 region, representing a low of April 19 and the lower limit of the Bollinger Band. New Zealand Dollar FAQs What key factors drive the New Zealand Dollar? The New Zealand Dollar , also known as the Kiwi, is a well-known traded currency among investors.
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