NZD/USD moves above 0.6100, eyes on US Core PCE

NZD/USD halts its losing streak ahead of the release of US Core PCE. The New Zealand Dollar may face challenges as the 10-year government bond yield has fallen below 4.85%. The hawkish remarks of the Fed officials helped the US Dollar to hold ground. The New Zealand Dollar may face a challenge as the 10-year government bond yield fell below 4.85%, retreating from one-month highs.

3% from 1.6%. Additionally, US weekly Initial Jobless Claims for the week ending on May 24 rose to 219,000 from the previous week's 216,000, slightly exceeding the market consensus of 218,000. Investors are awaiting the Federal Reserve's preferred inflation gauge, the Core Personal Consumption Expenditures Price Index, which will be released on Friday.

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NZD/USD IG Client Sentiment: Our data shows traders are now net-long NZD/USD for the first time since May 15, 2024 13:00 GMT when NZD/USD traded near 0.61.Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger NZD/USD-bearish contrarian trading bias.
Source: DailyFX - 🏆 305. / 63 Read more »

NZD/USD IG Client Sentiment: Our data shows traders are now net-short NZD/USD for the first time since Mar 12, 2024 when NZD/USD traded near 0.61.Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger NZD/USD-bullish contrarian trading bias.
Source: DailyFX - 🏆 305. / 63 Read more »