NZD / USD cuts early gains, remains calm around 0.7150

Get real time updates directly on you device, subscribe now.

  • NZD / USD struggles to gain bullish momentum on Monday.
  • The US Dollar Index rises towards 94.00 after a weak start to the week.

After closing the second consecutive week in positive territory, the pair NZD / USD it rose during the Asian session on Monday, but lost its bullish momentum. At time of writing, the pair, which hit a daily high of 0.7180, is virtually unchanged on the day at 0.7150.

DXY bounces towards 94.00 thanks to higher yields

The renewed strength of the USD during European trading hours appears to be weighing on the NZD / USD. The US Dollar Index is currently up 0.26% on the day at 93.85. In the absence of the release of high-level macroeconomic data, the observed increase of more than 1% in the yield of the US 10-year treasury bonds is providing a boost to the dollar at the beginning of the week.

The Federal Reserve Bank of Chicago National Activity Index and the Dallas Fed Manufacturing Survey will be featured on the US economic agenda later in the day. On Tuesday, New Zealand’s trade balance data will be analyzed for fresh momentum.

Meanwhile, US stock index futures have risen 0.1% to 0.3%. Should the major Wall Street indices gain traction after the opening bell, the dollar could struggle to find demand as a safe haven and the NZD / USD could look to rise. However, investors are also likely to keep a close eye on US Treasury yields.

Technical levels


Get real time updates directly on you device, subscribe now.

Leave A Reply

Your email address will not be published.