NZD/USD shoots higher from 0.6680 ahead of Biden's meeting with world leaders

NZD/USD has bounced sharply after hitting a low of 0.6680 as market sentiment turns cautiously positive.
Asian markets have rebounded as investors start pouring funds back into risk-sensitive assets.
The DXY remains subdued amid weaker US Initial Jobless claims and improving mood.

FXStreet Team FXStreet

The NZD/USD pair has attracted some bids after consolidating in a narrow range of 0.6684-0.6695. The pair has surged sharply and is now eyeing Thursday’s high at 0.6718, as investors cheer the news of a meeting hosted by US President Joe Biden with international leaders on the potential Russian invasion of Ukraine.

US President Biden will host a meeting on the Russia-Ukraine tussle on Friday with leaders of Canada, Germany, France, Italy, Romania, Poland, Britain, EU, and NATO, reported by the Canadian Prime Minister's office.

The involvement of major leaders at this scale in the agenda is indicating that some positive developments could buildup further and ultra-hot volatility in the market will ease out. While this headline has started cooling off the uncertainty in the market as the S&P 500 futures rebound sharply. Moreover, the Asian markets have bounced alongside. Adding to that, the aussie and the kiwi have pared their early losses.

Meanwhile, the US dollar index (DXY) is trading lackluster in a limited range of 95.70-95.88 on weak performance from the US Initial Jobless Claims (IJC) data, published by the Department of Labor. The data came in at 248k, well above the market estimates and previous print of 219k and 225k respectively.

The US Treasury yields have turned positive and are likely to surpass 2%, as investors regain confidence over risk-sensitive assets.

The obscurity over the Russia-Ukraine situation still persists and the market may behave according to the headlines in the coming sessions.

NZD/USD

Overview
Today last price	0.6709
Today Daily Change	0.0016
Today Daily Change %	0.24
Today daily open	0.6693

Trends
Daily SMA20	0.6645
Daily SMA50	0.6733
Daily SMA100	0.6867
Daily SMA200	0.696

Levels
Previous Daily High	0.6718
Previous Daily Low	0.6659
Previous Weekly High	0.6733
Previous Weekly Low	0.6599
Previous Monthly High	0.6891
Previous Monthly Low	0.6529
Daily Fibonacci 38.2%	0.6695
Daily Fibonacci 61.8%	0.6681
Daily Pivot Point S1	0.6662
Daily Pivot Point S2	0.6631
Daily Pivot Point S3	0.6602
Daily Pivot Point R1	0.6721
Daily Pivot Point R2	0.6749
Daily Pivot Point R3	0.678

Author

FXStreet Team

FXStreet

Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.

GBP/USD back to 1.3250, down modestly for the day

GBP/USD now comes under fresh downside pressure and recedes toward the mid-1.3200s on Tuesday, partially reversing the optimism seen at the beginning of the week. Meanwhile, Cable’s bearish tone follows the resumption of the upside traction in the Greenback, always amid the sharp rally in USD/JPY.

EUR/USD looks inconclusive in the low 1.1400s

EUR/USD alternates gains with losses in the 1.1420 region in the latter part of the NA session on turnaround Tuesday. The pair’s vacillating price action comes amid the lack of clear direction in the US Dollar. Meanwhile, market participants are expected to gear up for the upcoming key releases on the US docket and developments from the ECB Forum in Sintra.

Gold clings to daily gains beyond $4,000

Following multi-month lows near $3,950, Gold now manages to regain some composure and reclaim the area beyond the key $4,000 yardstick per troy ounce on Wednesday. Still, any meaningful recovery appears limited as a broadly firmer US Dollar and rising US Treasury yields weigh on the yellow metal.

Ethereum: Sharplink makes first treasury purchase in 2026 amid ETH's fall from grace

Ethereum treasury firm Sharplink resumed accumulation of the second-largest cryptocurrency by market capitalization last week after months on the sidelines. The Florida-based firm acquired 10,000 ETH last week at an average price of $1,611 per ETH, marking its first purchase since October. The move has pushed its holdings to 886,725 ETH worth roughly $1.4 billion at the time of writing.

Why a hawkish Bank of Japan could trigger the next Bitcoin sell-off

The Japanese Yen hits a 40-year low of 162.00 against the US Dollar, raising concerns about intervention or additional rate hikes by the Bank of Japan. BoJ may sell US Treasuries to buy back Yen, potentially pushing US bond yields higher and making Bitcoin less attractive to investors.

Kevin Warsh isn't expected to say much in Sintra: That's exactly why markets will listen

Financial markets could find an important catalyst in the enchanting, fairytale-like landscape of Sintra this week. The ECB Forum will, as it does every year, gather the crème de la crème of central banks. The new boss at the Fed, who has clearly said that the Fed should stop explaining everything, will need to talk – and traders should listen.