The NZD/USD pair trades sideways near the psychological level of 0.6000 in Monday’s late Asian session.
NZD/USD is stuck in a tight range around 0.6000 as investors are sidelined ahead of the RBNZ policy decision. The market mood turns cautious as robust US labor data dents Fed rate cut expectations for June. The USD Index consolidates as the focus shifts to US Inflation data. The Kiwi asset struggles for a direction as investors stays on sidelines ahead of the interest rate decision by the Reserve Bank of New Zealand , which will be announced on Wednesday.
S&P 500 futures posted some losses in the Tokyo session, portraying uncertainty among market participants. 10-year US Treasury yields jump to 4.43%. Investors turn cautious as upbeat United States Nonfarm Payrolls report for March has dented speculation for the Federal Reserve to begin reducing interest rates from the June meeting. The US Dollar Index remains rangebound, trades inside Friday’s trading range around 104.30.
RBNZ Fed Interestrate Inflation
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