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May 25 - 11:55 PM

NZD/USD - Consolidates After Torrid Week As Bears Pause For Breath

By Krishna K  —  May 25 - 10:00 PM
  • NZD/USD +0.2% in Asia on light short covering after its 3.4% drop this week

  • Upside limited as resilient U.S. economy and higher yields propel USD

  • Fed 25bps June rate hike chances at 52% on CME Tool from 36% Thu, caps NZD

  • RBNZ signal Wednesday that rate hikes are over continues to weigh on Kiwi

  • Optimism on U.S. debt ceiling deal, weak Asian currencies undermine NZD

  • Fri range 0.6076-0.6049, support 0.6045-50, 0.6025-30; resistance 0.6100-10

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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