NZD/USD traces downbeat options market signals to slide beneath 0.6300

Anil Panchal FXStreet

NZD/USD takes offers to refresh intraday low near 0.6260, extending the previous day’s downbeat momentum, while tracing the recently bearish options market signals.

That said, the Risk Reversal (RR), calculated as the difference between call and put options, drops the most in a week while posting the consecutive second negative daily RR with the latest -0.100 figures.

It’s worth noting that the weekly RR also braces for the second negative print after snapping the four-week uptrend in the last, to -0.110 at the latest.

The reason could be linked to the US Dollar’s recovery, mainly due to the latest rebound in the US Treasury yields.

Even so, the lack of major data/events joins China-linked market optimism to challenge the NZD/USD bears.

Also read: NZD/USD Price Forecast: Unconvinced buyers maintain the pair afloat

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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