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Feb 21 - 05:55 PM

NZD/USD - Slides As Risk Sours; RBNZ Rate Decision Awaited

By Krishna K  —  Feb 21 - 05:30 PM
  • NZD offered in Asia after 0.6% fall Tuesday as risk aversion grips markets

  • Weighed down by strong U.S. data which raises fears of higher interest rates

  • Wall Street posts worst day of 2023, U.S. yields hit 3-month highs

  • Fed Jan 31-Feb 1 meeting minutes Wed, U.S.core PCE price index Fri awaited

  • RBNZ meets Wed, expected to moderate hawkish stance with 50 bps rate rise

  • Analysts point to waning inflation expectations, softer labour market

  • Supports at 0.6186-93, 200-DMA and Jan 6 low followed by 0.6170 (100-DMA)

  • Resistance 0.6260-70 and 0.6290-95

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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