- China and US have reportedly agreed to "phased rollback" of tariffs.
- US Dollar Index moving sideways below the 98 mark.
- Coming up: Weekly Jobless Claims and September Consumer Credit Change data from US.
The NZD/USD pair gained traction on Thursday as the latest headlines surrounding the United States (US) - China trade dispute helped antipodeans gather strength. As of writing, the pair was trading at 0.6375, adding 0.12% on a daily basis.
Renewed trade optimism lifts NZD
Earlier in the day, China's Commerce Ministry in a statement announced that the US and China have agreed to cancel existing tariffs in different phases. "If China and the US reach phase one trade deal, both sides must cancel existing tariffs at the same time, in the same proportion based on the agreement," the statement read.
Additionally, Chinese news outlet Xinhua reported that China was considering to remove restrictions on poultry imports from the United States.
On the other hand, the US Dollar Index, which rose to 98 area earlier this week supported by upbeat macroeconomic data releases, is moving sideways on Thursday, allowing the trade headlines to continue to dominate the pair's action. Later in the session, weekly Jobless Claims data from the US and September Consumer Credit Change report will be looked upon for fresh impetus.
Technical levels to watch for
|Today last price||0.6375|
|Today Daily Change||0.0008|
|Today Daily Change %||0.13|
|Today daily open||0.6367|
|Previous Daily High||0.6393|
|Previous Daily Low||0.6359|
|Previous Weekly High||0.6458|
|Previous Weekly Low||0.6333|
|Previous Monthly High||0.6437|
|Previous Monthly Low||0.6204|
|Daily Fibonacci 38.2%||0.6372|
|Daily Fibonacci 61.8%||0.638|
|Daily Pivot Point S1||0.6353|
|Daily Pivot Point S2||0.6339|
|Daily Pivot Point S3||0.6319|
|Daily Pivot Point R1||0.6387|
|Daily Pivot Point R2||0.6407|
|Daily Pivot Point R3||0.6421|
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.