NZD/USD fades US inflation-inspired gains below 0.6400 ahead of China trade data – by anilpanchal7 NZDUSD Inflation RBNZ Fed Currencies
, the Kiwi pair also portrays the traders’ anxiety ahead of China’s trade numbers for December and the first prints of the US Michigan Consumer Sentiment Index for January. for December propelled expectations of easy rate hikes and drowned the US Dollar the previous day. However, the recent chatters that the Fed’s easy move could also push the Reserve Bank of New Zealand to retreat from hawkish bias seemed to have weighed on the NZD/USD prices.
After the CPI announcements, the Fed Fund Futures tied to the policy rate implied a nearly 100% chance of a 0.25%rate hike in February while the odds favoring a 50 bps rate hike in the said month slumped to 8.0%.
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