- The NZD / USD does not claim recovery and erases daily gains.
- The dollar recovers momentum, stocks lose strength and yields rise slowly.
- Ahead: US data from the manufacturing sector.
The NZD / USD recovery after the sharp falls registered last Thursday and Friday, lost moment after approaching 0.7300 and is now operating in lows for the day at 0.7225, just above last week’s bottom of 0.7220.
The change in the intraday trend occurred before a strengthening of the dollar, which recovered the moment after a downward correction in the Asian session. In turn, the kiwi (NZD) was among the most affected, which was reflected in a rebound in the AUD / NZD.
Traders closely follow what is happening on the exchanges. LThe futures of the main Wall Street indices have moderated the rises while the yields of the Treasuries have risen modestly in the last hours.
On the data side, China’s PMI figures showed that economic activity in the manufacturing sector grew at a slower rate than expected in February. Europe’s PMIs were mostly above market consensus.
In EE.UU. The final reading of the Manufacturing Markit PMI, the Manufacturing ISM and the construction spending will be published. Several Federal Reserve officials (William, Brainard, Bostic, Mester and Kashakari) will speak. In an interview with the Wall Street Journal, Thomas Barkin (Richmond Fed) partially downplayed the rise in yields and was optimistic about the economic outlook.
Technical levels
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