NZD/USD remains timid around 0.6100 due to investors’ caution


  • NZD/USD stays calm as traders adopt caution ahead of key inflation data from both nations.
  • The Kiwi Dollar may appreciate as close trade partner China expressed confidence in achieving its annual growth target of 5%.
  • CME FedWatch Tool suggests 67.7% odds of a Fed rate cut in September, rising from 61.5% a week earlier.

NZD/USD hovers around 0.6120 during the European session on Tuesday. The pair barely moves due to the investors’ caution ahead of ANZ – Roy Morgan Consumer Confidence for June due and US Gross Domestic Product (GDP) for the first quarter (Q1) are set to be released on Thursday. The US Personal Consumption Expenditure (PCE) Price Index will be eyed on Friday.

The Reserve Bank of New Zealand (RBNZ) forecasted during its last policy meeting in May that the central bank wouldn’t start cutting its Official Cash Rate from 5.5% until the third quarter of next year as inflation remains elevated.

According to Bloomberg, China Premier Li Qiang expressed confidence that China is capable of achieving its full-year growth target of around 5%. Qiang warned that decoupling and protectionism would only increase economic operational costs globally. Any change in the Chinese economy could impact the Kiwi market, as China and New Zealand are close trade partners.

The US Dollar received downward pressure from dovish comments from Chicago Fed President Goolsbee. On Monday, Goolsbee said in a chat show on CNBC’s Squawk Box that the Federal Reserve might need to consider whether the restrictive policy is putting too much pressure on the economy.

According to the CME FedWatch Tool, investors are pricing in 67.7% odds of a Fed rate cut in September, compared to 61.5% a week earlier.

NZD/USD

Overview
Today last price 0.6126
Today Daily Change 0.0000
Today Daily Change % 0.00
Today daily open 0.6126
 
Trends
Daily SMA20 0.6147
Daily SMA50 0.6063
Daily SMA100 0.6071
Daily SMA200 0.6067
 
Levels
Previous Daily High 0.6141
Previous Daily Low 0.6104
Previous Weekly High 0.6149
Previous Weekly Low 0.6096
Previous Monthly High 0.6171
Previous Monthly Low 0.5875
Daily Fibonacci 38.2% 0.6127
Daily Fibonacci 61.8% 0.6118
Daily Pivot Point S1 0.6106
Daily Pivot Point S2 0.6087
Daily Pivot Point S3 0.6069
Daily Pivot Point R1 0.6143
Daily Pivot Point R2 0.6161
Daily Pivot Point R3 0.618

 

 

Share: Feed news

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.

XM
Account
7.2
Tools
9.2
Service
9.4
Trading
9.0
Trust
7.0
Experience
8.4
Read review
Moneta Markets
Account
7.4
Tools
6.6
Service
8.0
Trading
6.6
Trust
5.2
Experience
9.2
Read review
Trading Pro
Account
7.2
Tools
5.2
Service
6.6
Trading
8.0
Trust
5.0
Experience
7.0
Read review
Pepperstone
Account
8.2
Tools
8.2
Service
7.4
Trading
9.0
Trust
8.8
Experience
9.0
Read review
XM
Read review
Moneta Markets
Read review
Trading Pro
Read review
Pepperstone
Read review
Trading Pro
Read review
Pepperstone
Read review
XM
Read review
Moneta Markets
Read review
Trading Pro
Account
7.2
Tools
5.2
Service
6.6
Trading
8.0
Trust
5.0
Experience
7.0
Read review
Pepperstone
Account
8.2
Tools
8.2
Service
7.4
Trading
9.0
Trust
8.8
Experience
9.0
Read review
XM
Account
7.2
Tools
9.2
Service
9.4
Trading
9.0
Trust
7.0
Experience
8.4
Read review
Moneta Markets
Account
7.4
Tools
6.6
Service
8.0
Trading
6.6
Trust
5.2
Experience
9.2
Read review

Recommended content


Recommended content

Editors’ Picks

AUD/USD bulls remain on the sidelines amid escalating US-China trade war

AUD/USD bulls remain on the sidelines amid escalating US-China trade war

AUD/USD edges lower on Thursday and stalls the previous day's sharp recovery from a multi-year low, triggered by Trump's decision for an immediate 90-day tariff pause for many countries and a substantial reduction in the reciprocal tariff to 10%. 

AUD/USD News
USD/JPY struggles to find acceptance above 148.00; looks to US CPI for fresh impetus

USD/JPY struggles to find acceptance above 148.00; looks to US CPI for fresh impetus

USD/JPY attracts fresh sellers during the Asian session on Thursday and reverses a part of the previous day's goodish recovery gains from the YTD low. Hopes for a US-Japan trade deal and the divergent BoJ-Fed policy expectations underpin the JPY and exert some pressure on spot prices amid a modest USD downtick.

USD/JPY News
Gold drifts higher above $3,050 amid escalating US-China trade tensions

Gold drifts higher above $3,050 amid escalating US-China trade tensions

Gold price edges higher to around $3,080 during the early Asian session on Wednesday. The safe-haven demand amid escalating trade tensions between the United States and China provides some support to the precious metal.

Gold News
Senate approves Paul Atkins as new SEC Chair

Senate approves Paul Atkins as new SEC Chair

The Senate voted 52-44 on Wednesday to approve Paul Atkins as the new SEC Chair. The news could improve sentiment in the crypto market, considering Atkins has previously advocated for better crypto regulations and served as an advisor to crypto companies.

Read more
Tariff rollercoaster continues as China slapped with 104% levies

Tariff rollercoaster continues as China slapped with 104% levies

The reaction in currencies has not been as predictable. The clear winners so far remain the safe-haven Japanese yen and Swiss franc, no surprises there, while the euro has also emerged as a quasi-safe-haven given its high liquid status.

Read more
The Best brokers to trade EUR/USD

The Best brokers to trade EUR/USD

SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.

Read More

Forex MAJORS

Cryptocurrencies

Signatures

Best Brokers of 2025