The NZD/USD pair attracts fresh sellers following an Asian session uptick to the 0.6025-0.6030 region and turns lower for the third successive day on Monday.
NZD/USD turns lower for the third straight day and drops to over a two-month trough. Bets for an early RBNZ rate cut and China’s economic woes continue to weigh on the Kiwi. Dovish Fed expectations and US politics undermine the USD, lending support to the pair. This also marks the fifth day of a negative move in the previous six and drags spot prices to the lowest level since May 14 in the last hour, with bears now awaiting acceptance below the 0.
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. Another factor moving NZD is dairy prices as the dairy industry is New Zealand’s main export. High dairy prices boost export income, contributing positively to the economy and thus to the NZD.
RBNZ US Elections Fed Currencies
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
NZD/USD Price Analysis: Bounces back strongly to 0.6100 as US Inflation cools in MayThe NZD/USD pair recovers its intraday losses and rises to near the round-level resistance of 0.6100 in Friday’s American session.
Read more »
NZD/USD: May fall towards 0.6045The New Zealand Dollar (NZD) is likely to trade in a range, probably between 0.6070 and 0.6115.
Read more »
NZD/USD seems vulnerable near mid-0.6000s, lowest since May 15 amid stronger USDThe NZD/USD pair comes under some renewed selling pressure during the Asian session on Tuesday and momentarily slides below mid-0.6000s for the first time since mid-May.
Read more »
NZD/USD: Next support level is at 0.6005The New Zealand Dollar (NZD) is likely to decline. The next support level is at 0.6005.
Read more »
NZD/USD Price Analysis: Pair stuck in 0.6050-0.6070 range, bears in controlDuring Thursday's session, the NZD/USD dropped by 0.60% to touch the 0.6050 level.
Read more »
NZD/USD undergoing a throwback after piercing necklineNZD/USD has formed a complex multi-peak topping pattern which is at risk of breaking down now that the pair’s “neckline” – the level underpinning its trough lows – at around 0.6100, has been decisively pierced.
Read more »