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New Zealand Kiwi Dips Amid Fears Of Fewer Fed Cuts
The New Zealand Kiwi declined against the dollar after the rise in the US Purchasing Manager Index (PMI) figures reignited concerns that persistent inflation in the services sector could keep price growth elevated for much longer than investors hoping for rate cuts had initially anticipated. Expectations for rate cuts diminished throughout the day, causing risk assets to fall and boosting demand for the US Dollar. Although there was slight support from an improvement in New Zealand Consumer Confidence, with the ANZ Roy Morgan Consumer Confidence index rising to 84.9 in May from 81.9 in April, this increase was not ... (full story)
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- Posted: May 24, 2024 1:28am
- Submitted by:Category: Technical AnalysisComments: 0 / Views: 3,169
