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      NZD/USD attempts recovery from GDP-led drop, near 0.6360

      FXStreet (Mumbai) - NZD/USD recovers partial losses and extends its tepid recovery into the mid-Asian session, after the Kiwi fell to 0.6330 levels on the back of poor NZ Q2 GDP figures.

      NZD/USD keeps the red, despite weaker USD

      Currently, the NZD/USD pair trades -0.17% lower at 0.6356, recovering fresh session lows of 0.6330. The Kiwi brought an end to the two back-to-back sessions of gains and slipped into the red zone after New Zealand’s economic growth data for the June quarter missed expectations. The NZ GDP expanded 0.4% in the June quarter, missing the expected growth rate of 0.6%.

      However, the losses in NZD/USD remain cushioned on the back a broadly lower US dollar, as markets continue to digest the weak US inflation numbers, awaiting the outcome from the conclusion of the Fed’s 2-day gathering later tonight.

      NZD/USD Levels to consider

      To the upside, the next resistance is located at 0.6384 (Sept 16 High) levels and above which it could extend gains to 0.6400 (Sept 10 High) levels. To the downside immediate support might be located at 0.6330 (Today’s Low) below that 0.6268 (Sept 4 Low).

      ASX investigates tech issue, withdraw of liquidity in Aussie

      The Aussie saw a withdraw of liquidity off 0.72 to 0.7188, based on low volume drop, just as a headline hit the wires on all ASX 24 markets halted as the ASX investigates a technical issue under Trade24 platform.
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      USD/JPY: Bulls fighting for control, around 120.50

      USD/JPY extends its overnight choppy–trend in the mid-Asian trades, now recovering from a dip to session lows; as markets continue to weigh Japan’s ratings downgrade and at the same time remain wary ahead of the Fed verdict due later today.
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