NZD/USD flirts with 0.6200 amid modest USD strength, downside seems cushioned – by hareshmenghani NZDUSD Fed Bonds RiskAppetite Currencies
ssive day on Tuesday. The corrective decline remains uninterrupted through the early European session, with bears now awaiting a sustained weakness below the 0.6200 round-figure mark before placing fresh bets.
The US Dollar regains some positive traction and snaps a three-day losing streak to its lowest level since February 14, which, in turn, is seen exerting downward pressure on the NZD/USD pair. That said, a fresh leg down in the US Treasury bond yields, amid diminishing odds for a more aggressive policy tightening by the Federal Reserve , could act as a headwind for the buck. Apart from this, a generally positive risk tone could help limit losses for the risk-sensitive Kiwi, at least for now.
The collapse of two mid-size US banks - Silicon Valley Bank and Signature Bank - fueled speculations that the US central bank will soften its hawkish stance to prevent any further economic pressure from high-interest rates. In fact, the markets are pricing in a greater chance of a smaller 25 bps lift-off in March and that themight even cut rates during the second half of the year.
Meanwhile, the news that UBS will rescue Credit Suisse in a $3.24 billion deal helps ease fears of widespread contagion risk and boosts investors' confidence. This is evident from a further recovery in the global equity markets, which tends to undermine traditional safe-haven assets and might further contribute to capping the buck. Market participants, however, remain worried about a full-blown banking crisis.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
NZD/USD struggles around 0.6280 as investors await PBoC policyThe NZD/USD pair is facing barriers in extending its upside above the immediate resistance of 0.6280 in the early Asian session. The Kiwi asset is exp
Weiterlesen »
NZD/USD bears are moving in to test H1 structureNZD/USD is meeting a prior area of support on the hourly charts as the bears move in from the session´s highs near 0.6280. NZD/USD has traveled betwee
Weiterlesen »
NZD/USD Price Analysis: Drops back towards 200-EMA around 0.6250, buyers stay hopefulNZD/USD Price Analysis: Drops back towards 200-EMA around 0.6250, buyers stay hopeful NZDUSD Technical Analysis SwingTrading ChartPatterns SupportResistance
Weiterlesen »
NZD/USD Price Analysis: Bulls struggle to find acceptance above 38.2% Fibo./200-day EMAThe NZD/USD pair retreats from over a one-month high, around the 0.6280 region touched earlier this Monday and maintains its offered tone heading into
Weiterlesen »
NZD/USD fails to capitalize on a weaker US Dollar and tumbles below the 200-DMANZD/USD reversed its course after piercing the 200-day Exponential Moving Average (EMA), tumbling 0.12%, as Wall Street is about to close. US equities
Weiterlesen »
NZD/USD Price Analysis: Formation of an Inverted H&S favors a solid upsideThe NZD/USD pair is making efforts in defending the critical support of 0.6240 in the early Asian session. The Kiwi asset has remained sideways from M
Weiterlesen »