- Kiwi cut losses against the dollar, remains among the worst performers.
- NZD / USD falls for the first time after rising for four consecutive trading days.
The NZD / USD it bottomed during the US session at 0.6938, the lowest level since last Wednesday, and then rebounded sharply, cutting losses. The pair rose to 0.6970, driven by a decline in the US dollar across the board.
The dollar tumbled amid month-end flows. The move down took place in the middle of no particular catalyst. In the US bond market, yields remain negative during the day, but did not register new lows and on Wall Street, the main stock indexes remain lower.
Economic data for the United States was mixed on Tuesday. The focus is on the FOMC meeting. On Wednesday, the US central bank will announce its decision, probably unchanged. “We expect the discussions on the reduction to intensify at this week’s FOMC meeting. These will focus on timing, speed, and composition. Recent comments from President Powell suggest that the Fed is a few months away from an announcement on the phase-down, ”ANZ analysts wrote.
Kiwifruit is among the worst performers on Tuesday. Despite cutting losses against the dollar, the NZD / USD remains negative for the day, about to end a 4-day positive streak. AUD / NZD rose sharply, recovering from monthly lows, about to test 1.0600.
Technical levels
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