NZD/USD keeps the red below 0.6100 on stronger USD, reacts little to Chinese trade data – by hareshmenghani NZDUSD China Fed Bonds Currencies
session on Tuesday. Spot prices, however, manage to recover a few pips from the daily low touched in the last hour and currently trade just below the 0.6100 mark, still down nearly 0.30% for the day.
The better-than-expected release of Trade Balance data from China, showing that the surplus rose to $80.6 billion in Jul from $70.62 billion in the previous month, lends some support to antipodean currencies, including the New Zealand Dollar . Additional details of the report, however, showed that imports slumped 12.4% YoY and exports dropped 9.2% YoY, indicating weaker domestic and overseas demand.
In remarks prepared for delivery to a "Fed Listens" event in Atlanta, Bowman added that inflation remains too elevated, and job growth and other indications of activity show the economy has continued expanding at a "moderate pace." This keeps the door for one more 25 bps lift-off in September or November wide open and remains supportive of elevated US Treasury bond yields, which, in turn, is seen acting as a tailwind for the Greenback.
Hence, any attempted recovery might still be seen as a selling opportunity and runs the risk of fizzling out rather quickly. Bearish traders, however, need to wait for a sustained break below the 0.6500 psychological mark before positioning for any further losses. Market participants now look to the release of the US Trade balance data for some impetus later during the early North American session.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
NZD/USD struggles to capitalize on its modest uptick beyond 0.6100 on stronger USDThe NZD/USD pair attracts some dip-buying on the first day of a new week and sticks to its modest intraday gains through the early part of the Europea
Leer más »
NZD/USD oscillates in a narrow range below the 0.6100 mark, US inflation eyedThe NZD/USD pair oscillates in a narrow range below the 0.6100 mark during the early Asian session on Monday. Meanwhile, the US Dollar Index (DXY), a
Leer más »
NZD/USD trades flat below 0.6100 at the start of the weekThe NZD/USD traded neutral on Monday, below the 0.6100 level. On the one hand, the USD recovered from rising yields after Friday’s losses, while the N
Leer más »
NZD/USD Price Analysis: Kiwi rebound eyes 0.6150 and NZ/US inflation cluesNZD/USD Price Analysis: Kiwi rebound eyes 0.6150 and NZ/US inflation clues – by anilpanchal7 NZDUSD Inflation Technical Analysis ChartPatterns Currencies
Leer más »
GBP/USD trades with a mild negative bias, below mid-1.2700 amid reviving USD demandThe GBP/USD pair extends Friday's late pullback from the 1.2800 neighbourhood and edges lower during the Asian session on Monday, though lacks follow-
Leer más »
EUR/USD remains on the defensive below 1.1000, seems vulnerable amid modest USD strengthEUR/USD remains on the defensive below 1.1000, seems vulnerable amid modest USD strength – by hareshmenghani EURUSD Fed ECB Inflation Currencies
Leer más »