- US dollar remains strong, DXY gains 0.45%.
- The US manufacturing empire rebounds in March.
- NZD/USD breaks previous lows and fixes at the 200-day SMA.
The pair NZD/USD it falls for the second day in a row and hits new lows after the release of the US data, settling at 0.6175, the lowest level in four weeks. The US dollar generally gained momentum and resumed its bullish path.
The dollar continues to advance after the publication of US data
Data released on Monday showed an unexpected bounce from -24.60 to 10.8, against expectations of -18.0. The numbers boosted the US dollar further, while the kiwi lagged behind again.
Earlier on Monday, data from New Zealand showed a 0.8% rise in the Food Price Index for March and a modest decline in the Business NZ PSI for March to 54.4 from 55.8. This week’s key report in New Zealand will be first quarter inflation early on Thursday.
The NZD/USD pair is trading at 0.6175, its lowest level since March 22. The pair remains below April lows and looks vulnerable near the 200 SMA at 0.6160.
technical levels
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
