NZD/USD edges lower to 0.6080 in Thursday’s early Asian session, down 0.10% on the day. Fed officials said the central bank is 'closer' to cutting interest rates.
NZD/USD edges lower to 0.6080 in Thursday’s early Asian session, down 0.10% on the day. Fed officials said the central bank is 'closer' to cutting interest rates. The softer New Zealand CPI inflation data triggered rate-cut bets by the RBNZ this year. The NZD/USD pair trades on a weaker note near 0.6080 during the early Asian session on Thursday. The prospect of an interest rate cut by the Reserve Bank of New Zealand and China's economic woes continue to weigh on the Kiwi.
Its value is broadly determined by the health of the New Zealand economy and the country’s central bank policy. Still, there are some unique particularities that also can make NZD move. The performance of the Chinese economy tends to move the Kiwi because China is New Zealand’s biggest trading partner. Bad news for the Chinese economy likely means less New Zealand exports to the country, hitting the economy and thus its currency.
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