NZD/USD gains ground due to an increase in export volumes and a strong rebound in the Terms of Trade in Q1. The New Zealand Dollar received support from China Services PMI, which marked the 17th consecutive month of expansion in services activity. Speculation is strengthening that the Fed will begin reducing interest rates starting from the September meeting.
The appreciation of the NZD/USD pair could be attributed to rising speculation that the Federal Reserve will start reducing interest rates from the September meeting, following a series of weak US economic data. On Tuesday, the JOLTS US Job Openings declined by 296,000 to 8.059 million in April, down from March's 8.355 million, marking the lowest level since February 2021. This figure also missed the market consensus of 8.340 million.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Coin Coin Latest News, Coin Coin Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
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 »
NZD/USD inches higher to near 0.6000 after Chinese Trade dataNZD/USD has extended its gains for the second consecutive session, trading around 0.6010 during the Asian session on Thursday.
Source: FXStreetNews - 🏆 14. / 72 Read more »
NZD/USD rises toward 0.6150 after the RBNZ decides to keep OCR unchangedThe NZD/USD pair rebounded after two days of losses, trading around 0.6140 during Asian hours on Wednesday following the Reserve Bank of New Zealand's (RBNZ) interest rate decision.
Source: FXStreetNews - 🏆 14. / 72 Read more »