- NZD/USD snaps two days’ losses on Thursday in the early Asian session.
- US Dollar Index falls below the one-year high near 94.50 to trade negatively.
- Kiwi gains amid mixed play of COVID-19, risk-on sentiment, and inflationary pressures.
NZD/USD prints daily gain on Thursday in the Asian session. The selling pressure in the US dollar pushes NZD/USD higher. After testing the lows near 0.6911, the pair jumbled nearly 60-pips in the US session to give the highest closing in the past five-session. At the time of writing, NZD/USD is trading at 0.6960, up 0.10% for the day,
The US Dollar Index (DXY), which measures the greenback performance against its six major rivals, trades at 94.00, down 0.54% as investors digest the recent inflation readings and FOMC minutes. The US Core Price Index (CPI) jumped 5.4% in September from 5.3% in August whereas the FOMC minutes showed that the Fed is close to starting tapering, possibly in mid-November.
Furthermore, the risk-on sentiment helped the kiwi to gain momentum. It is worth noting that, S&P 500 Futures is trading at 4,358, up 0.08%. The disappointing economic data restricted the gains for the NZD. The ANZ Business Outlook Index in New Zealand fell -8.6 in October.
On the pandemic side, new 55 cases are recorded and Northland and Waikato will remain in alert level 3 for another five days.
As for now, all eyes are on the US Initial Jobless Claims to take fresh trading impetus.
NZD/USD additional levels
|Today last price||0.697|
|Today Daily Change||0.0034|
|Today Daily Change %||0.49|
|Today daily open||0.6936|
|Previous Daily High||0.6971|
|Previous Daily Low||0.6923|
|Previous Weekly High||0.6984|
|Previous Weekly Low||0.6876|
|Previous Monthly High||0.7171|
|Previous Monthly Low||0.6859|
|Daily Fibonacci 38.2%||0.6941|
|Daily Fibonacci 61.8%||0.6953|
|Daily Pivot Point S1||0.6915|
|Daily Pivot Point S2||0.6895|
|Daily Pivot Point S3||0.6867|
|Daily Pivot Point R1||0.6963|
|Daily Pivot Point R2||0.6991|
|Daily Pivot Point R3||0.7011|
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. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.