NZD/USD clings to modest daily gains near 0.6670 ahead of US data


  • Business NZ PMI improves slightly in June, misses expectations.
  • US Dollar Index continues to move sideways near the 97 handle.
  • Coming up: Producer Price Index data from the U.S. 

The NZD/USD pair inched higher toward the 0.67 handle earlier in the day but, once again, lost its momentum before testing that level. As of writing, the pair was trading at 0.6670, adding 0.15% on a daily basis.

The pair seems to be taking advantage of the selling pressure surrounding the greenback. Despite a modest recovery attempt following yesterday's inflation report, the US Dollar Index is having a difficult time gaining traction. Ahead of the Producer Price Index data to be released in the early trading hours of the American session, the DXY is posting small losses at 97.

Earlier today, the data published by the Business NZ showed that the business activity in June expanded at a more robust pace than expected with the headline PMI improving to 51.3 from 50.2. However, this reading fell short of the market expectation of 53.1 but didn't have a negative impact on the kiwi.

Meanwhile, the data from China revealed that the trade surplus in June widened to $50.98 billion to beat the analysts' estimate of $44.65 billion and helped antipodeans gather strength against its rivals.

Technical levels to watch for

NZD/USD

Overview
Today last price 0.6668
Today Daily Change 0.0007
Today Daily Change % 0.11
Today daily open 0.6661
 
Trends
Daily SMA20 0.6601
Daily SMA50 0.6589
Daily SMA100 0.6698
Daily SMA200 0.6711
Levels
Previous Daily High 0.669
Previous Daily Low 0.6635
Previous Weekly High 0.6728
Previous Weekly Low 0.6602
Previous Monthly High 0.6722
Previous Monthly Low 0.6487
Daily Fibonacci 38.2% 0.6669
Daily Fibonacci 61.8% 0.6656
Daily Pivot Point S1 0.6634
Daily Pivot Point S2 0.6607
Daily Pivot Point S3 0.6579
Daily Pivot Point R1 0.6689
Daily Pivot Point R2 0.6717
Daily Pivot Point R3 0.6744

 

 

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.

Feed news

Latest Forex News

Editors’ Picks

EUR/USD extends gains to fresh seven-week highs

The American dollar is under selling pressure amid a better market mood. EUR/USD above 1.1140 ahead of several Fed’s speakers that can rock markets.

EUR/USD News

GBP/USD trades around 1.29 amid speculation of Brexit vote

GBP/USD is trading around 1.29 as speculation mounts about the fate of the Brexit deal. UK PM Johnson faces a test in parliament after securing an accord with the EU.

GBP/USD News

USD/JPY: struggles near mid-108.00s pivotal point amid weaker USD

US Dollar Index slumped to multi-month lows below 97.50. 10-year US Treasury bond yield adds more than 1% on Friday. Wall Street's main indexes look to start the day little changed.

USD/JPY News

Gold turns flat above $1,490 as USD remains under pressure

After dropping to a daily low of $1,485, the XAU/USD pair staged a modest rebound during the American trading hours and turned flat on the day near $1,492.

Gold News

China’s downward economic path offers no escape from its trade problems

There were no surprises in China’s GDP figures as the government portrays an economy slipping steadily lower giving little promise of improvement or support for the waning global expansion.

Read more

Forex MAJORS

Cryptocurrencies

Signatures