NZD/USD loses ground due to Tuesday's rebound in the US Dollar. The hawkish remarks from Fed officials indicate that there is no immediate need for interest rate cuts. ANZ Business Confidence has marked its lowest level since last September, indicating a significant economic deterioration. The rebound in the US Dollar undermines the NZD/USD pair, which could be attributed to the hawkish remarks from US Federal Reserve officials, indicating no immediate need for rate cuts.
These events are likely to influence market sentiment and USD movement. In New Zealand, the ANZ Business Confidence fell to 14.9 in April from March’s reading of 22.9, marking the third consecutive month of decline and hitting the lowest level since last September. This latest data suggests a notable weakening of the economy, likely influenced by the Reserve Bank of New Zealand’s decision to raise interest rates.