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New Zealand Dollar Forecast: NZD/USD Pinned on Covid Woes as Chinese PMI Looms

From dailyfx.com

The New Zealand Dollar fell against the US Dollar overnight as traders attempt to balance risk drivers. Wall Street moved higher during New York’s Monday trading session, with growth-sensitive technology stocks leading the charge. Equity traders are pressing the buy button after Federal Reserve Chair Jerome Powell said the conditions for a rate hike are still a ways off. Meanwhile, the situation around Covid continues to weigh on sentiment elsewhere in the markets. The Fed’s signaling makes for an attractive investment location as lockdowns across the Asia-Pacific region point to economic slowdowns. Australia’s New ... (full story)

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  • Category: Technical Analysis