The NZD/USD pair trades on a softer note near 0.6120 despite the weaker US Dollar (USD) during the early Asian trading hours on Tuesday. In the absence of top-tier economic data released from New Zealand on Tuesday, speeches by FOMC members could influence USD demand ahead of the key US economic data, which are due later this week. The revision of US Gross Domestic Product (GDP) for the first quarter (Q1) is due on Thursday, and the Personal Consumption Expenditure (PCE) Price Index will be published on Friday.
The US Federal Reserve (Fed) officials emphasized that they need to see more progress on inflation before considering a rate cut. Financial markets are now pricing in a 65% odds of a Fed rate cut in September, up from 59.5% at the end of last week, according to the CME FedWatch Tool. The cautious stance from the US central bank continues to support the Greenback in the near term against the Kiwi.
San Francisco Federal Reserve Bank President Mary Daly said on Monday that she does not believe the Fed should cut rates before policymakers are confident that inflation is headed towards 2%. Daly further stated that the labour market, albeit strong, might face rising unemployment if inflation remains persistent.
On the Kiwi front, the Reserve Bank of New Zealand (RBNZ) forecast during its last policy meeting in May that the central bank wouldn’t start cutting its Official Cash Rate from 5.5% until the third quarter of next year as inflation remains elevated. Nonetheless, many analysts expect the beginning of the rate cut in early 2025. The speculation that the RBNZ will cut rates earlier than projected weighs on the New Zealand Dollar (NZD) and creates a headwind for the NZD/USD pair.
Data released on Monday showed that New Zealand’s Trade Balance arrived at NZD $-10.05B YoY in May from the previous reading of $-10.22B, according to Statistics New Zealand. Meanwhile, Exports rose to $7.16B in the same month versus $6.31B prior. Imports increased to $6.95B in May compared to $6.32B in April.
© 2000-2024. Sva prava zaštićena.
Sajt je vlasništvo kompanije Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
Svi podaci koji se nalaze na sajtu ne predstavljaju osnovu za donošenje investicionih odluka, već su informativnog karaktera.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Izvršenje trgovinskih operacija sa finansijskim instrumentima upotrebom marginalne trgovine pruža velike mogućnosti i omogućava investitorima ostvarivanje visokih prihoda. Međutim, takav vid trgovine povezan je sa potencijalno visokim nivoom rizika od gubitka sredstava. Проведение торговых операций на финанcовых рынках c маржинальными финанcовыми инcтрументами открывает широкие возможноcти, и позволяет инвеcторам, готовым пойти на риcк, получать выcокую прибыль, но при этом неcет в cебе потенциально выcокий уровень риcка получения убытков. Iz tog razloga je pre započinjanja trgovine potrebno odlučiti o izboru odgovarajuće investicione strategije, uzimajući u obzir raspoložive resurse.
Upotreba informacija: U slučaju potpunog ili delimičnog preuzimanja i daljeg korišćenja materijala koji se nalazi na sajtu, potrebno je navesti link odgovarajuće stranice na sajtu kompanije TeleTrade-a kao izvora informacija. Upotreba materijala na internetu mora biti praćena hiper linkom do web stranice teletrade.org. Automatski uvoz materijala i informacija sa stranice je zabranjen.
Ako imate bilo kakvih pitanja, obratite nam se pr@teletrade.global.