- The NZD / USD starts the new week with a firm tone.
- The US Dollar DXY Index fluctuates within a narrow range above 90.00.
- The major Wall Street indices appear to be opening in positive territory.
The pair NZD / USD It gained traction to the upside during the Asian session on Monday and reached a daily high of 0.7218 before entering a consolidation phase. At time of writing, the pair is up 0.38% on the day at 0.7208.
DXY Index Reduces Initial Losses Before Mid-level Data
The Widespread selling pressure around the US dollar earlier in the week drove the rise in pair. However, a negative change in market sentiment after German IFO data showed deterioration in business sentiment, which has helped the USD find demand and limited the rise of the NZD / USD.
Regarding US economic data, the Chicago Fed National Activity Index has just been released, which rose from 0.1 in November to 0.52 in December. Later, the US Dallas Fed Manufacturing Companies Index will be released. At this time, the US dollar DXY index records small daily gains at 90.26.
Meanwhile, S&P 500 futures are up 0.3% on the day, suggesting that risk appetite money flows could regain control of financial markets in the second half of the day and hurt the safe-haven USD.
On Tuesday, the Reserve Bank of New Zealand (RBNZ) will release credit card spending data for December. The NZ Service Business Performance Index (PSI) could also generate new momentum.
NZD / USD technical levels
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