NZD/USD inches closer to 2019 low of 0.6525 as greenback continues to gather strength

  • US Dollar Index climbs above 97.80 on Thursday.
  • 10-year US T-bond yield retraces yesterday's fall.
  • Coming up: Business NZ's PMI report and Q1 PPI data.

The NZD/USD started the day on a positive note and rose to 0.6580 in the Asian session but failed to preserve its momentum. With the greenback gathering further strength in the second half of the day, the pair extended its slide and moved closer to the 2019-low that it set at 0.6525 on May 8. As of writing, the pair was down 0.37% on the day.

With the risk sentiment improving in the absence of fresh developments surrounding the U.S.-China trade dispute, the 10-year US Treasury bond yield gained traction today and staged a decisive recovery to help the greenback outperform its major rivals. 

The US Dollar Index, which spent the first half of the day moving sideways below 97.50, rose above the 97.80 mark for the first time in two weeks and was last up 0.27% on the day at 97.82. Today's data from the U.S. revealed that housing starts rose 5.7% in April and the initial weekly jobless claims decreased by 16K to 212K in the week ending May 10.

During the early trading hours of Friday, the Business NZ's April PMI reading, which is expected to improve to 54.5 in April from 51.9 in March, and first-quarter Producer Price Index (PPI) data from New Zealand will be looked upon for fresh impetus.

Technical levels to watch for


Today last price 0.6537
Today Daily Change -0.0026
Today Daily Change % -0.40
Today daily open 0.6563
Daily SMA20 0.6624
Daily SMA50 0.6732
Daily SMA100 0.6765
Daily SMA200 0.6717
Previous Daily High 0.6579
Previous Daily Low 0.655
Previous Weekly High 0.6632
Previous Weekly Low 0.6526
Previous Monthly High 0.6838
Previous Monthly Low 0.658
Daily Fibonacci 38.2% 0.6561
Daily Fibonacci 61.8% 0.6568
Daily Pivot Point S1 0.6549
Daily Pivot Point S2 0.6535
Daily Pivot Point S3 0.652
Daily Pivot Point R1 0.6578
Daily Pivot Point R2 0.6593
Daily Pivot Point R3 0.6607



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.

Feed news

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!

Latest Forex News

Editors’ Picks

EUR/USD pressured around 1.13 after jump in US jobs

EUR/USD is trading around 1.13, down after US Non-Farm Payrolls shocked with a leap of 2.5 million jobs in May, contrary to all projections. The greenback is gaining while stocks are falling, a correlation breakdown. ECB stimulus previously supported the euro.


GBP/USD retreats from highs

GBP/USD is trading below 1.27, off the highs. The pound is struggling after Chief EU Negotiator Barnier reported little progress in Brexit talks. Robust US jobs support the dollar.


Gold sees weekly closing below $1700 - a caution for bulls

The steady decline in Gold prices (futures on Comex) accelerated on Friday, as the rates closed the week below the 1700 mark for the first time in three weeks at 1688.35. A weekly closing below the key 1700 level is unlikely to bode well for the bulls.

Gold News

Institutional demand exceeds Bitcoins supply

Greyscale floods the market with fresh money to satisfy the demand of its clients. Investors, willing to pay a 29% surcharge for exposure to Bitcoin without suffering the legal and operational inconveniences. Market remains at risk on the verge of new bullish territory.

Read more

WTI rallies above $39 as focus shifts to OPEC+ meeting

Crude oil prices built on Thursday's modest gains and rose sharply on Friday boosted by the upbeat market mood optimism surrounding Saturday's OPEC+ meeting. 

Oil News