By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Gulf PressGulf Press
  • Home
  • Gulf News
    • Saudi Arabia
    • UAE24/7
    • Kuwait
    • Qatar
    • Bahrain
    • Oman
  • World
  • Business
    • Market DataLive
    • Finance
    • Economy
    • Energy
    • Crypto
    • ForexHot
    • Tech
  • Sports
  • Lifestyle
  • Videos
Search
Countries
  • Saudi Arabia
  • UAE
  • Kuwait
  • Qatar
  • Bahrain
  • Oman
More Topics
  • Technology
  • Health
  • Entertainment
  • Crypto
  • Forex
  • Stocks
Site Links
  • Business Hub
  • Trending
  • Weather
  • Customize Interests
  • Bookmarks
  • Newsletter
  • Terms
  • Press Release
  • Advertise
  • Contact
© 2023 Gulf Press. All Rights Reserved.
Reading: NZD/USD Price Analysis: Climbs to 0.6230 as Fed Policy Becomes Focus
Share
Notification Show More
Recent Saved
Workers in Bucharest face challenges as temperatures rise
World
Dress code guidelines for the Qatari government sector during office hours
Qatar
Court rules in favor of worker after company dismisses him for salary deductions over 6 years, awarding BD 27,000.
Bahrain
UAE to See Almost 30,000 New Millionaires in 5 Years
UAE
Proposed New Labor Law in Bahrain Targets Increasing Job Opportunities
Bahrain
Latest News
Rasmala Delivers Robotics-Enabled Logistics Facility in the Netherlands
Gulf
Marathon Des Sables confirms Jordan as the 2025 venue for the fifth year in a row
Gulf
Explore the Future: “Forum Moscow 2030. Territory of the Future” Invites Young UAE Visitors to Experience Innovation, Creativity, and Urban Adventure
Gulf
Ferrero’s Social Responsibility Project Kinder Joy of moving Beats Traditional PE Curriculum, Tapping into the Cognitive Functions, Motor Coordination and Life Skills of Students
Lifestyle
UAE Ranks Among Top Rugby Markets on TOD as British & Irish Lions Tour Kicks Off
Sports
Darven: A New Leap in AI-Powered Legal Technology Launching from the UAE to the World
Tech
Beat the Heat This Summer with a Chill Out on Dubai Marina
World
Historic Italian City of Assisi to Host International Exhibition “Jordan: Dawn of Christianity”
World
Jordan to Host Iraq in the Final Round of the Asian World Cup Qualifiers After Securing Historic Spot
Sports
The Myriad Redefines Student Living for a Mobile, Urban Generation
UAE
Aa
Gulf PressGulf Press
Aa
  • Gulf News
  • World
  • Business
  • Entertainment
  • Lifestyle
  • Sports
  • Videos
Search
  • Home
    • Videos
    • Business Hub
    • Trending
  • Gulf
    • Saudi Arabia
    • UAE
    • Kuwait
    • Qatar
    • Bahrain
    • Oman
  • Business
    • Market Data
    • Crypto
    • Economy
    • Energy
    • Finance
    • Forex
    • Tech
  • More News
    • World
    • Lifestyle
    • Entertainment
    • Sports
Have an existing account? Sign In
Follow US
  • Terms
  • Press Release
  • Advertise
  • Contact
© 2023 Gulf Press. All Rights Reserved.
Gulf Press > Business > Forex > NZD/USD Price Analysis: Climbs to 0.6230 as Fed Policy Becomes Focus
Forex

NZD/USD Price Analysis: Climbs to 0.6230 as Fed Policy Becomes Focus

News Room
Last updated: 2024/09/18 at 2:44 PM
News Room
Share
2 Min Read
SHARE

The NZD/USD pair has surged to near 0.6230 as the Kiwi dollar performs strongly in the market. Investors are eagerly anticipating the Federal Reserve’s interest rate decision, expected to be dovish. Traders are leaning towards the possibility of a 50 bps rate cut by the Fed.

On Thursday, investors will be keeping a close eye on the Q2 Gross Domestic Product (GDP) data to gauge New Zealand’s economic health. The NZ economy is projected to have contracted by 0.5% on an annualized basis. Despite the expected softening of the Official Cash Rate (OCR) by the Reserve Bank of New Zealand (RBNZ) due to weak economic performance, the NZD continues to strengthen.

The Federal Reserve’s policy announcement at 18:00 GMT will be a major trigger for the Kiwi asset. The Fed is expected to deliver its first interest rate cut in over four years. The size of the interest rate cut and the dot plot will be closely watched by investors.

Technical analysis shows NZD/USD extending its recovery above the 23.6% Fibonacci retracement level near 0.6200. The New Zealand Dollar bulls are finding support from the 20-period Exponential Moving Average (EMA) at this level. If the asset breaks above the September 6 high of 0.6250, it could move towards higher levels.

Factors like the Chinese economy’s performance, dairy prices, the rate differential between New Zealand and the US, and macroeconomic data releases play a crucial role in determining the value of the New Zealand Dollar. The Reserve Bank of New Zealand’s inflation targeting policy and interest rate decisions also impact the strength of the currency.

The New Zealand Dollar tends to strengthen during risk-on periods when market risks are low and investors are optimistic about growth. Conversely, during market turbulence or economic uncertainty, the NZD tends to weaken as investors seek safe-haven assets. Understanding these factors can help investors make informed decisions when trading the New Zealand Dollar in the foreign exchange market.

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
I have read and agree to the terms & conditions
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
News Room September 18, 2024
Share this Article
Facebook Twitter Copy Link Print
Previous Article Qatari Permanent Representative holds meeting with Deputy Secretary-General of the United Nations
Next Article Ajdan Real Estate Development and Aljazira Capital to Launch SR2 Billion Mixed-Use Real Estate Project in Central Riyadh
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected

235.3k Followers Like
69.1k Followers Follow
56.4k Followers Follow
136k Subscribers Subscribe
- Advertisement -
Ad imageAd image

Latest News

Rasmala Delivers Robotics-Enabled Logistics Facility in the Netherlands
Gulf August 4, 2025
Marathon Des Sables confirms Jordan as the 2025 venue for the fifth year in a row
Gulf July 31, 2025
Explore the Future: “Forum Moscow 2030. Territory of the Future” Invites Young UAE Visitors to Experience Innovation, Creativity, and Urban Adventure
Gulf July 30, 2025
Ferrero’s Social Responsibility Project Kinder Joy of moving Beats Traditional PE Curriculum, Tapping into the Cognitive Functions, Motor Coordination and Life Skills of Students
Lifestyle July 14, 2025

You Might also Like

Forex

Pound Sterling Price Update and Prediction: GBP strengthens as risk sentiment improves

January 6, 2025
Forex

Elliott Wave Technical Analysis of NVIDIA Corp. (NVDA) [Video]

January 6, 2025
Forex

EUR/USD: Is it a Dead Cat Bounce? – OCBC

January 6, 2025
Forex

AUD/JPY maintains gains around 98.50 following PMI data release

January 6, 2025
Forex

NZD/USD edges up to nearly 0.5650 after China’s Caixin Services PMI

January 6, 2025
Forex

Japanese Yen bulls stay on the sidelines as USD/JPY remains steady above the mid-157.00s

January 6, 2025
Forex

Silver Price Prediction: XAG/USD bears in control below $30.00 near 200-day SMA

January 6, 2025
Forex

Gold price drops from multi-week high due to hawkish Fed expectations

January 6, 2025
//

Gulf Press is your one-stop website for the latest news and updates about Arabian Gulf and the world, follow us now to get the news that matters to you.

Quick Link

  • Privacy Policy
  • Terms of ue
  • Advertise
  • Contact

How Topics

  • Gulf News
  • International
  • Business
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our latest news instantly!

I have read and agree to the terms & conditions
Gulf PressGulf Press
Follow US

© 2023 Gulf Press. All Rights Reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

I have read and agree to the terms & conditions
Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?