On Tuesday, the NZD/USD failed to hold its momentum, which saw the pair rising to 0.5870 and then settling at 0.5840 trading with mild losses. Followi
The NZD/USD retreated from a high of 0.5870 to 0.5840. The green currency gained momentum after higher-than-expected S&P Global PMIs. US data, including S&P PMIs from October, Q3 GDP and PCE inflation from September figures, will be the next highlights. ng the release of strong Manufacturing and Services PMIs the US Dollar gained interest as its economy is holding strong. In addition, US Treasury yields are rising, benefiting the green currency.
In addition, Jerome Powell will be on the wires on Wednesday. It is worth noticing that last week, the USD faced selling pressure after the Fed Chair's speech, where he pointed out that higher yields will be taken into account in the next decisions and that the bank will proceed carefully. NZD/USD Levels to watch Considering the daily chart, the NZD/USD shows a bearish outlook for the short term.
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