NZD/USD depicts market’s inaction around 0.6370 amid mixed clues – by anilpanchal7 NZDUSD RiskAppetite Inflation Currencies CentralBanks
Among them, the US Dollar’s hesitance to track the downbeat US Treasury bond yields joins firmer New Zealand data and a light calendar elsewhere. Also likely to restrict immediate NZD/USD moves could be the market’s cautious mood ahead of Thursday’s key inflation data for the US and China.improved sharply to -0.1% in December versus -5.7% market forecasts and -4.0% prior. remains pressured towards the 103.00 round figure, around 103.
It’s worth mentioning that the US 10-year Treasury bond yields rose 10 basis points to 3.61% the previous day, following a corrective bounce to snap the two-day downtrend. However, the benchmark bond coupons retreated to 3.60% by the press time. The same join the upbeat Wall Street closing to help S&P 500 Futures print mild gains and weigh on the US Dollar’s safe-haven demand.
Moving on, NZD/USD may witness further lackluster moves amid anxiety ahead of Thursday’s inflation numbers from China and the US.A weekly symmetrical triangle restricts short-term NZD/USD moves between 0.6385 and 0.6345. However, the bearish Doji candlestick, marked the previous day, keeps the sellers hopeful.
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