- The NZD / USD appears to close for the second day in a row in positive territory.
- Rising US Treasury yields helped the USD rebound modestly.
- The S&P 500 hit a new all-time high on Wednesday.
The pair NZD / USD It advanced to its highest level since April 2018 at 0.7316 on Wednesday, but wiped out a small portion of its daily earnings during US business hours. At time of writing, the pair was up 0.5% on the day at 0.7288.
DXY recovers on rising US Treasury yields.
Earlier in the day, risk appetite in the market, as reflected in rising European stock indices, made it difficult for the dollar to attract investors as a safe haven. The US Dollar Index (DXY) fell to a new multi-year low of 89.20 during European trading hours.
In the second half of the day, however, the DXY turned north on the back of rising US Treasury yields Prospects for additional stimulus with Democrats seeking to claim a majority in the Senate after the second round of elections in Georgia they provided a boost to Treasury yields. At the moment, the 10-year benchmark is at its highest level since March, rising more than 9% to 1.047% and the DXY is up 0.15% to 89.56.
Data from the US showed that employment in the private sector fell by 123,000 in December. However, this disappointing reading had little to no impact on market sentiment. In fact, the S&P 500 Index hit a new all-time high at 3,775 in the past hour.
Later in the session, the FOMC will publish the minutes of its December meeting. No macroeconomic data for New Zealand will be released on Thursday.
Technical levels
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