{"id":154581,"date":"2023-09-13T00:31:27","date_gmt":"2023-09-12T19:01:27","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=154581"},"modified":"2023-09-13T00:31:27","modified_gmt":"2023-09-12T19:01:27","slug":"nzd-usd-struggling-to-move-past-0-5900-with-us-cpi-around-the-corner-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/nzd-usd-struggling-to-move-past-0-5900-with-us-cpi-around-the-corner-crypto-news\/","title":{"rendered":"NZD\/USD struggling to move past 0.5900 with US CPI around the corner &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div id=\"fxs_article_content\">\n<p>\n                        <span class=\"fxs_socialmedia_bar_share_label\">Share:<\/span><\/p>\n<ul>\n<li><strong>The NZD\/USD is swamped near 0.5900, unable to develop meaningful momentum.<\/strong><\/li>\n<li><strong>It&#8217;s the USD&#8217;s ballgame as investors look ahead to key US inflation figures on Wednesday.<\/strong><\/li>\n<li><strong>The Federal Reserve looks set to step back from the rate hike cycle as long as inflation continues to ease.<\/strong><\/li>\n<\/ul>\n<p>The NZD\/USD pair is struggling to find firmer footing after slipping to the 0.5900 level through Tuesday\u2019s market session, dipping from the day\u2019s high of 0.5923 as the US Dollar (USD) takes a step higher against the Kiwi (NZD).<\/p>\n<p>It\u2019s strictly a low-impact showing for the NZD on the economic calendar <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/economic-calendar\/united-states\">this week<\/a>. Food Price Index and Business Purchasing Manager Index (PMI) figures are not expected to draw much market reaction, and it will be up to the Greenback (USD) side of things to push momentum.<\/p>\n<h2 class=\"fxs_headline_medium\">US inflation figures keyed up for the midweek, CPI to set the tone<\/h2>\n<p>Investors are looking forward to the US Consumer Price Index (CPI) figures due on Wednesday. Market participants broadly believe that the Federal Reserve (Fed) will pause on further rate hikes at their upcoming meeting in September, however, expectations could swing if the CPI print surprises to the upside. Investors expect the CPI for August to show a 0.5% annualized rise in prices, mostly in the cost of energy and fuel, with the core CPI forecast to hold steady at 0.2%.<\/p>\n<p>Over the weekend, US Treasury Secretary Janet Yellen declared her optimism that the US could successfully control inflation without any damage to the employment market. Yellen also noted that inflation <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/rates-charts\/indicators\">indicators<\/a> across the board have been declining recently, and there has yet to be any sign of a wave of layoffs.<\/p>\n<h2 class=\"fxs_headline_medium\">NZD\/USD technical outlook<\/h2>\n<p>The Kiwi is mostly flat on the week\u2019s opening prices near 0.5900, but <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/currencies\/nzdusd\">the NZD\/USD pair<\/a> is notably on the downside of recent action, having closed in the red for seven of the last eight consecutive trading weeks. Kiwi bulls are struggling to lift the pair from the year\u2019s lows near 0.5860, and sustained selling pressure will send the NZD tumbling back to 2022\u2019s lows near the 0.5600 handle.<\/p>\n<p>Hourly candles have the pair trying to build a rally from the day\u2019s lows near 0.5890, but 0.5900 appears to be a significant level to overcome, with 0.5980 waiting further above and acting as a ceiling for near-term momentum.<\/p>\n<p>The 4-hour candle overview shows the NZD\/USD pairing on the low end, struggling to hold onto near-term consolidation levels. Despite the bearish stance, higher lows are marked in for September, and Kiwi bidders will be looking to build up enough momentum to grab ahold of the 0.6000 handle.<\/p>\n<h2 class=\"fxs_headline_medium\">NZD\/USD 4-hour chart<\/h2>\n<\/p>\n<p>\u00a0<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Share: The NZD\/USD is swamped near 0.5900, unable to develop meaningful momentum. It&#8217;s the USD&#8217;s ballgame as investors look ahead to key US inflation figures on Wednesday. The Federal Reserve looks set to step back from the rate hike cycle as long as inflation continues to ease. The NZD\/USD pair is struggling to find firmer [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":8891,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,842,257,276,255,250,715,252,247,253,249,256,254],"class_list":["post-154581","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cpi","tag-cryptocurrency","tag-currencies","tag-gta","tag-looks-rare","tag-nzdusd","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/154581","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=154581"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/154581\/revisions"}],"predecessor-version":[{"id":154582,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/154581\/revisions\/154582"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/8891"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=154581"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=154581"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=154581"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}