NZD/USD moves above 0.6100, eyes on US Core PCE

Source Fxstreet
  • NZD/USD halts its losing streak ahead of the release of US Core PCE.
  • The New Zealand Dollar may face challenges as the 10-year government bond yield has fallen below 4.85%.
  • The hawkish remarks of the Fed officials helped the US Dollar to hold ground.

NZD/USD breaks its three-day losing streak, trading around 0.6130 during the European session on Friday. The New Zealand Dollar (NZD) may face a challenge as the 10-year government bond yield fell below 4.85%, retreating from one-month highs.

The Reserve Bank of New Zealand (RBNZ) has raised its forecast for a peak in interest rates and delayed the timing for any rate cut. The RBNZ kept its cash rate at a 15-year high of 5.5%, indicating that restrictive policy needs to be maintained longer to ensure inflation returns to the 1-3% target range.

On Thursday, New Zealand Finance Minister Nicola Willis stated that the Treasury sees inflation falling to below 3% in Q3 and easing to 2% around 2026. The New Zealand treasury sees NZ GDP contracting in H1 2024, and growth in H2 2024, as per the official transcript from the New Zealand Government's website.

On the USD front, the US Gross Domestic Product (GDP) Annualized for the first quarter was revised lower to 1.3% from 1.6%. Additionally, US weekly Initial Jobless Claims for the week ending on May 24 rose to 219,000 from the previous week's 216,000, slightly exceeding the market consensus of 218,000.

Investors are awaiting the Federal Reserve's preferred inflation gauge, the Core Personal Consumption Expenditures (PCE) Price Index, which will be released on Friday. If the data continues to soften, it could reignite the debate over potential rate cuts in September, which could help Silver limit its downside.

NZD/USD

Overview
Today last price 0.6127
Today Daily Change 0.0012
Today Daily Change % 0.20
Today daily open 0.6115
 
Trends
Daily SMA20 0.6077
Daily SMA50 0.6008
Daily SMA100 0.6065
Daily SMA200 0.6047
 
Levels
Previous Daily High 0.6132
Previous Daily Low 0.6088
Previous Weekly High 0.6153
Previous Weekly Low 0.6083
Previous Monthly High 0.6079
Previous Monthly Low 0.5851
Daily Fibonacci 38.2% 0.6105
Daily Fibonacci 61.8% 0.6115
Daily Pivot Point S1 0.6091
Daily Pivot Point S2 0.6068
Daily Pivot Point S3 0.6047
Daily Pivot Point R1 0.6135
Daily Pivot Point R2 0.6156
Daily Pivot Point R3 0.6179

 

 

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Nvidia ruled 2024, but 2025 holds tough challenges2024 was a great year for Nvidia, making it the clear leader in the AI market with smart technology and investments. In 2025, Nvidia will face increased competition from AMD, Intel, and tech giants like Google, Amazon, and Microsoft, who are developing their own AI chips to reduce reliance on Nvidia’s products. Nvidia has had […]
Author  Cryptopolitan
Dec 30, 2024
2024 was a great year for Nvidia, making it the clear leader in the AI market with smart technology and investments. In 2025, Nvidia will face increased competition from AMD, Intel, and tech giants like Google, Amazon, and Microsoft, who are developing their own AI chips to reduce reliance on Nvidia’s products. Nvidia has had […]
placeholder
Japanese Yen retreats further from multi-month high set against USD on TuesdayThe Japanese Yen (JPY) continues losing ground against its American counterpart for the second straight day on Wednesday and moves away from the highest level since October touched the previous day.
Author  FXStreet
21 hours ago
The Japanese Yen (JPY) continues losing ground against its American counterpart for the second straight day on Wednesday and moves away from the highest level since October touched the previous day.
placeholder
Ethereum Price Recovery Capped—Bulls Struggle Near ResistanceEthereum price failed to clear the $2,000 resistance and trimmed gains. ETH is now consolidating and facing hurdles near the $1,920 resistance. Ethereum started a fresh decline below the key support
Author  NewsBTC
18 hours ago
Ethereum price failed to clear the $2,000 resistance and trimmed gains. ETH is now consolidating and facing hurdles near the $1,920 resistance. Ethereum started a fresh decline below the key support
placeholder
XRP Price Eyes Upside Break—Can Bulls Push Through Resistance?XRP price started a fresh recovery wave from the $1.90 zone. The price is now showing positive signs and might clear the $2.250 resistance zone. XRP price started a fresh decline from the $2.200
Author  NewsBTC
17 hours ago
XRP price started a fresh recovery wave from the $1.90 zone. The price is now showing positive signs and might clear the $2.250 resistance zone. XRP price started a fresh decline from the $2.200
placeholder
Silver Price Forecast: XAG/USD jumps to near $33 on US slowdown fears, US CPI eyedSilver price (XAG/USD) climbs to near $33.00 in European trading hours on Wednesday, the highest level seen in more than two weeks.
Author  FXStreet
14 hours ago
Silver price (XAG/USD) climbs to near $33.00 in European trading hours on Wednesday, the highest level seen in more than two weeks.
Related Instrument
goTop
quote