NZD/USD trades in positive territory near 0.6108 in Thursday’s Asian session. The RBNZ ’s hawkish hold has boosted the Kiwi. Fed minutesofferedthe cautious tine, indicating worries over the lack of progress on inflation. TheNew Zealand Dollar edges higher asthe Reserve Bank of New Zealand kept interest rates steadyand signaledthepotential delay in interest rate cuts due to headwinds from sticky inflation. The RBNZ decided to keep the policy rate steady at 5.
On the USD’s front, the Federal Reserve released the minutes of the April 30-May1policy meeting on Wednesday, indicating that inflationin recent months has been a lack of further progress toward the Fed’s 2 percent objective.” Investors continue to adjust their expectations for rate cuts this year, with nearly 60% odds of the first reduction in September, according to the CME FedWatch tool. The attention will shift to the advanced reading of the US Purchasing ManagersIndex for May.
Source: Digital Coin News (digitalcoinnews.net)
Majors Macroeconomics RBNZ
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