NZD/USD continues a five-day losing streak, trades near 0.5820

NZD/USD continues to move on the downward trajectory that began on October 17, trading lower around 0.5820 during the European session on Monday. The

NZD/USD faces a challenge due to the stronger US Dollar. Fed Chair Powell mentioned that there is no plan for an immediate rate hike. Upbeat US Treasury yields contribute support for the Greenback. pair gains ground as the US Dollar rebounds, driven by higher US Treasury yields. Additionally, increased risk aversion, stemming from the Israel-Hamas military situation, contributes to the NZD/USD pair's gains.

In the previous week, the headline Consumer Price Index for the third quarter showed an increase of 1.8%, below the expected 2.0%. The yearly rate decelerated from 6.0% to 5.6%, falling short of consensus estimates of 5.9%. This data has prompted investors to adjust their expectations for a November interest rate hike by the Reserve Bank of New Zealand , leading to downward pressure on the NZD/USD pair. China Plans Twice-a-Decade Financial Policy Conference Next Week.

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