- The pair is negotiated near the 0.5900 zone after slipping 0.40%, under pressure by softer prospects of New Zealand and a stable US dollar.
- American PPIs and retail sales have missed expectations, but Powell of Fed took a careful tone supporting the stability of the back-back.
- The technical bias is lower; Support at 0.5860 and 0.5846, resistance at 0.5878 and 0.5884.
Thursday, the NZD / USD is negotiated around the level of 0.5900, faced with a renewed pressure in the careful feeling of investors and divergent macroeconomic signals. Despite data on inflation and retail sales softer than expected and retail sales, the comments of the president of the Federal Reserve Jerome Powell offered enough reassurance to keep the greenback on a stable foot. Meanwhile, the New Zealand dollar had trouble gaining ground in the midst of local financial announcements that failed to inspire a bullish response.
American data published Thursday showed that the Prix Producers (PPI) index increased 2.4%per year in April, below 2.5%expectations, while retail sales increased by 0.1%, down wider market hopes. These versions are added to increasing speculation that the federal reserve could start to mitigate the rates later in 2025. However, in its remarks during the research conference of Thomas Laubach, Powell stressed the need to review the Fed's political framework in light of persistent tenders, reaffirming a measured and patient approach to rate changes. This neutral position helped the US dollar recovering intra -day losses and a limited dynamic.
On the other hand, the economic account of New Zealand remains soft. The Minister of Finance, Nicola Willis, unveiled a social investment fund of $ 190 million NZ, aimed at improving long -term results for vulnerable groups. Although the initiative underlines budgetary discipline and targeted intervention, it had an immediate limited impact on the feeling of NZD. The objective of the market is now traveling to the NZ performance index of NZ on Thursday evening and the survey of the expectations of RBNZ inflation on Friday, which can both shape expectations for future rate decisions of the Reserve Bank of New Zealand.
NZD / USD Technical Outoot
From a technical point of view, NZD / USD maintains a lower bias, the pair sliding towards the middle of the daily beach between 0.5860 and 0.5916. The relative force index (RSI) hovers in the 1940s, showing a weak momentum, while the MacD printed a sales signal. Additional neutral signals from stochastic% K, the freight channel (CCI) and the power of the bull bear suggest a lack of conviction for a rebound. Short -term indicators, including 10 -day EMA and 20 -day SMA, strengthen downward pressure, while only 100 -day SMA offers modest bullish support.
The key support levels are observed at 0.5860, 0.5846 and 0.5829, while the resistance is nearly 0.5878, 0.5883 and 0.5884. Unless New Zealand data surprises upward data, the pair can continue to derive lower because investors promote relative safety of the US dollar in a prudent macro environment.
