- The New Zealand dollar goes back below 0.5950 after rejection in the psychological area of 0.6000.
- The USD is experiencing short coverage before reading the US PCE price index.
- New Zealand disappointing data has added bearish pressure on the Kiwi.
The New Zealand dollar has been rejected in the psychological area of 0.6000 and has returned to 0.5950, while the US dollar recovers lost land, with investors preparing for the publication of the reading of the PCE price index of the US PCE of April.
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The dollar lost ground compared to its main peers on Thursday, since a Federal Court of the United States suspended the judgment of Wednesday of the International Trade Court that prohibited most commercial tariffs introduced since April 2.
The decision of the Federal Court of Appeals has given a new turn to Trump’s chaotic commercial political, reactivating the trade of “selling America” that has pushed the US dollar index approximately 3.5% downward in the last two months.
However, the dollar has found some support and is going through a short coverage with investors by closing some of their positions before the US personal consumption expenses index.
PCE inflation, the Federal Reserve’s favorite inflation indicator, is expected to show a slight increase in monthly inflation, with the annual rate moderating even more. The general inflation is expected to be softened to 2.2% from 2.3%, with the underlying PCE price index decreasing to 2.5% from the previous reading of 2.6%.
New Zealand data has failed to support the Kiwi, since the business feeling published on Thursday deteriorated at its lowest levels in the last 10 months. In addition, RBNZ’s interim governor, Hawkesby, warned of the winds against short -term growth, adding pressure on the NZD.
New Zealander dollar today
The lower table shows the percentage of change of the New Zealand dollar (NZD) compared to the main coins today. New Zealand dollar was the strongest currency against the Australian dollar.
| USD | EUR | GBP | JPY | CAD | Aud | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.36% | 0.18% | -0.04% | 0.08% | 0.45% | 0.18% | 0.09% | |
| EUR | -0.36% | -0.15% | -0.42% | -0.28% | 0.12% | 0.14% | -0.28% | |
| GBP | -0.18% | 0.15% | -0.25% | -0.11% | 0.29% | 0.12% | -0.11% | |
| JPY | 0.04% | 0.42% | 0.25% | 0.12% | 0.59% | 0.37% | 0.19% | |
| CAD | -0.08% | 0.28% | 0.11% | -0.12% | 0.46% | 0.22% | 0.00% | |
| Aud | -0.45% | -0.12% | -0.29% | -0.59% | -0.46% | 0.02% | -0.39% | |
| NZD | -0.18% | -0.14% | -0.12% | -0.37% | -0.22% | -0.02% | -0.41% | |
| CHF | -0.09% | 0.28% | 0.11% | -0.19% | -0.01% | 0.39% | 0.41% |
The heat map shows the percentage changes of the main currencies. The base currency is selected from the left column, while the contribution currency is selected in the upper row. For example, if you choose the New Zealand dollar of the left column and move along the horizontal line to the US dollar, the percentage change shown in the box will represent the NZD (base)/USD (quotation).
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.
