NZD/USD slight offer on business PMI, bulls holding well on 0.73 handle

Ross J Burland FXStreet

Currently, NZD/USD is trading at 0.7320, down -0.02% on the day, having posted a daily high at 0.7324 and low at 0.7317.

NZD/USD has moved into a phase of consolidation and remains bid despite the recent Business PMI that came in at 56.2 vs prior 58.5.

The bird has been propped up on the back of a mixed dollar and commodities that are resurging while markets concentrate on a shift in sentiment with respect to Central Banks, particularly the Fed. Yellen's dovish testimony has set back rate hike expectations and that is fuelling a flight to the carry trade, supporting higher beta currencies such as the New Zealand dollar. The next big data for the dollar comes as:

US CPI expectations? - Nomura

Analysts at Westpac have noted that the bird is holding up well, against expectations and suggested that a 0.7200-0.7345 range is likely during the day ahead.

NZD/USD 1-3 month:

Their forward outlook suggests that the Fed’s tightening cycle plus US fiscal expansion should eventually reassert upside pressure on US interest rates and the US dollar, pushing NZD/USD below 0.6800 by year end. US factors should outweigh local factors which are mostly supportive (25 May).

NZD/USD levels

Resistance: 0.7345 July 3 high; 0.7368 (today's high)/76 Feb. 7 high; 0.7393 Nov. 9 high. Support: 0.7300, 0.7280, 0.7220, 0.7205/06 June 22/21 lows; 0.7186 June 15 low; 0.7150 June 5 high; 0.7127 June 6 low. On the wide, on a break below 0.7080/00 opens 0.6970.

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

EUR/USD shifts its attention to 1.1900 and above

EUR/USD has shaken off Tuesday’s dip, pushing back beyond the 1.1800 mark amid decent gains as Wednesday’s session draws to a close. The rebound is largely driven by a modest pullback in the US Dollar, as markets digest the aftermath of President Trump’s SOTU speech and continue to monitor trade-related headlines and signals from the White House.

GBP/USD challenges multi-day highs near 1.3530

GBP/USD leaves behind the previous day’s decline and regains fresh upside traction on Wednesday, surpassing the 1.3500 barrier in a context of a modest decline in the Greenback and a generalised improved mood in the risk-linked space. Meanwhile, the US tariff narrative continues to dictate the mood among market participants after Presidet Trump’s SOTU speech failed to surprise markets.

Gold remains bid and close to $5,200

Gold buyers are returning to the fold on Wednesday, targeting the $5,200 area and possibly beyond, after Tuesday’s corrective dip from monthly highs. The rebound in the precious metal comes as the US Dollar loses traction, with Trump’s SOTU speech offering little fresh direction and AI-related nerves continuing to ease.

UK financial watchdog advances stablecoin oversight as four firms pilot issuance

The Financial Conduct Authority (FCA) in the United Kingdom (UK) is advancing toward the final stablecoin regulatory framework with a pilot program involving four companies, including Monee, Financial Technologies ReStabilise, Revolut and VVTX.

Nvidia earnings to influence AI trade and broader market sentiment

For the last three years, Nvidia has been the engine of the AI boom, and now Wall Street is watching to see whether that momentum can keep going. High-growth stocks have been struggling to maintain their bullish trend in 2026.

Cosmos Hub Price Forecast: ATOM rebounds slightly, bearish outlook remains intact

Cosmos Hub (ATOM) price rebounds, trading above $2.05 at the time of writing on Wednesday, after undergoing a sharp correction since last week. Weakening on-chain and derivatives data support a bearish outlook, while technical analysis remains unfavorable.