NZD/USD rebounds on risk-on sentiment amidst mixed US inflation data NZDUSD Majors Macroeconomics
FOMC minutes showed that the banking crisis in the US put into the table a pause in the tightening cycle.
NZD/USD Price Analysis: The upside could be capped by daily EMAs, but once cleared, it can rally to 0.6300.officials were eyeing a pause on their tightening campaign. Also, US inflation figures mixed keep investors leaning towards a riskier asset, as shown by Wall Street about to finish with minimal gains. At the time of writing, the NZD/USD is trading at 0.6217.
Participants commented that inflation is still above the 2% goal and that inflation pressures were “abating at a pace sufficient to return inflation to 2% over time.” Some Fed members noted that they considered a 50-basis point increase if there was not a banking crisis. Furthermore, Fed policymakers observed, “that inflation remained much too high and that the labor market remained too tight.”
Earlier, an inflation report from the US revealed that headline CPI dropped from 6% in February to 5% annually. However, core inflation, which excludes food and energy, remained at 5.6% YoY, unchanged.
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