Kiwi starts recovering on inflation outlook
2023-08-09 06:34AM UTC

New Zealand dollar rose in European trade against a basket of major rivals, starting to recover from two-month lows against US dollar on inflation forecasts in New Zealand, which rose for the third quarter of the year, boosting chances of another interest rate hike.


US dollar declined a day before major US inflation data for July, which could showcase slower consumer prices and reduced pressures on Fed policy makers. 


NZD/USD rose 0.4% to 0.6089, with a session-low at 0.6048, after losing 0.7% on Tuesday, marking a two-month low at 60.35, on concerns about China's economy, the most important trade partner of New Zealand.


Inflation Forecasts


Earlier data, data showed that business managers in New Zealand expect inflation to be up to 2.83% in the third quarter of the year from 2.79% in the second quarter.



The outlook of higher prices could nudge the Reserve Bank of New Zealand to raise interest rates once more to control inflation.


The RBNZ will convene again on August 16th to discuss economic developments and appropriate policies. 


US Dollar


The dollar index fell 0.2% today, on track for the first loss in three sessions against a basket of major rivals.


Such a decline comes ahead of major US inflation data, crucial for gauging the likely path ahead for monetary policies. 

Forex and Currency News

Forex News


Will the US payrolls report pave the way for early Fed interest rate cuts in 2024?
2023-12-08 09:09AM UTC
Markets today await the crucial US payrolls report to gauge the strength of the US labor sector and ...
Forex News


Dollar resumes gains ahead of US jobs data
2023-12-08 08:53AM UTC
Dollar rose in European trade on Friday against a basket of major rivals, resuming gains and ...
Forex News


Dollar gives up three-week high ahead of unemployment claims data
2023-12-07 11:30AM UTC
Dollar declined in European trade on Thursday against a basket of major rivals away from three-week ...

Forex Technical Analysis

EUR USD Analysis


Evening update analysis for the EURUSD 08-12-2023
2023-12-08 15:04PM UTC
The EURUSD pair attempts to break 1.0760 level again, to hint heading to activate the negative ...
NZD USD Analysis


Midday update for the NZDUSD 08-12-2023
2023-12-08 10:36AM UTC
The NZDUSD pair keeps its stability above 0.6140 level, to continue suggesting the bullish trend ...
AUD USD Analysis


Midday update for the AUDUSD 08-12-2023
2023-12-08 10:36AM UTC
The AUDUSD pair settles around 0.6610 since morning, waiting to get positive motive that assist to ...