NZD/USD: New Zealand Dollar grinds below 0.6200 despite Reserve Bank of New Zealand’s hawkish play – by anilpanchal7 NZDUSD RBNZ Fed RiskAppetite Macroeconomics
he New Zealand Dollar struggles to cheer hawkish moves of the RBNZ amid mixed sentiment and cautious mood ahead of the key data/events.
It should be noted, however, that downbeat economic forecasts suggesting New Zealand’s recession in 2023 and sour comments from New Zealand Finance Minister Grant Robertson also challenged the New Zealand Dollar buyers.move while Auckland’s benchmark equity index NZX50 dropped 0.70% intraday by the press time.China’s daily coronavirus counts head towards the record top marked in April while the virus numbers from Beijing, Shanghai and Chongqing also increased.
In addition to the aforementioned trading range, the 200-day Exponential Moving Average also adds strength to the 0.6210 hurdle for the New Zealand Dollar buyers.
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