Oct 13, 2022
VOT Research Desk
Early in the European session, the NZD/USD pair is exhibiting topsy-turvy movements as a result of investors’ sideways movement in anticipation of US inflation.
Investors are being cautious because of the importance of the September inflation data and would rather wait to make a choice once it has been released. Because of the sharp decline in volatility, the risk profile has been subdued.
The US dollar index (DXY) is now imprisoned in chartered territory while the 10-year US Treasury rates have plateaued at approximately 3.92%. The formidable DXY is circling the immediate resistance level of 113.30. Federal Reserve (Fed) minutes on Wednesday that were aggressive and mixed Producer
Investors are paying close attention to the Business NZ PMI data, which is out on Friday, on the kiwi front.
The economic data is reported as 52.5 as opposed to 54.9 in the previous publication.
|
Daily SMA20 |
0.5743 |
|
Daily SMA50 |
0.6016 |
|
Daily SMA100 |
0.6156 |
|
Daily SMA200 |
0.6427 |
Since businesses have delayed their growth plans owing to rising interest requirements, it appears that the Reserve Bank of New Zealand’s (RBA) restrictive policy’s effects are already beginning to be felt. Aside from that, the CPI figures for China will be closely scrutinized.
The annual CPI statistics will increase to 2.8%, as predicted.
