- Kiwi among top performers on Friday for risk appetite.
- The NZD / USD cuts weekly losses and remains above the 20 SMA.
The NZD / USD it rose further after the start of the US session and reached 0.7251, a new two-day high. The pair remains supported by risk appetite and a weaker US dollar on Friday.
US data fails to lift the dollar
The US dollar is falling across the board. The DXY lost 0.40% and is trading below 90.40. Falling US yields weighed on the dollar. The 10-year yield bottomed out at 1.62% before rebounding modestly to 1.64%.
Economic data in the US surprised to the downside. Retail sales stalled in April, while consumer confidence unexpectedly fell in May, according to preliminary data from the University of Michigan. Following the numbers, the dollar fell further, except against the yen.
The Dow Jones was up 0.83% and the Nasdaq soared 1.83%. Risk appetite is driving kiwifruit which is among the top performers on Friday.
On a weekly basis, the NZD / USD is still negative, but again above the 20 simple moving average and away from the low and closer to the weekly high. The 0.7300 area is the barrier to break for the pair to open the doors to further gains.
Technical levels
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