{"id":163287,"date":"2023-09-26T23:50:01","date_gmt":"2023-09-26T18:20:01","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=163287"},"modified":"2023-09-26T23:50:01","modified_gmt":"2023-09-26T18:20:01","slug":"nzd-usd-looking-to-stabilize-near-0-5950-ahead-of-us-data-heavy-week-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/nzd-usd-looking-to-stabilize-near-0-5950-ahead-of-us-data-heavy-week-crypto-news\/","title":{"rendered":"NZD\/USD looking to stabilize near 0.5950 ahead of US data heavy week &#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 drifting around 0.5950 for Tuesday after recovering from a knockback to 0.5935.<\/strong><\/li>\n<li><strong>The economic calendar is notably Kiwi-light this week.<\/strong><\/li>\n<li><strong>US GDP and\u00a0PCE inflation figures to dominate headlines through the mid-week.<\/strong><\/li>\n<\/ul>\n<p>The NZD\/USD is trading back and forth for Tuesday, capped by the 0.5970 level as markets spread their Kiwi (NZD) bets ahead of a US data-heavy calendar for the back half of the trading week.<\/p>\n<p>The <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/currencies\/nzdusd\">Kiwi<\/a> hit an intraday high just shy of 0.5975 in the early Tuesday trading session before slumping to a low of 0.5935. The pair has since recovered to somewhere near the middle as traders wait for a reason to find some momentum.<\/p>\n<p>The US Housing Price Index printed at 0.8%, a clear beat of the market-expected 0.5%\u00a0and doubling the previous figure of 0.4%.<\/p>\n<p>Despite the bumper housing price reading, housing data for the US came in mixed, capping off potential USD gains. New Home Sales for the month of August recorded an 8.7% decline, a significant backstep from the previous 4.4% gain.<\/p>\n<p>Wednesday will see US Durable Goods Order for August, which are forecast to rebound\u00a0from -5.2% -0.5%, an improvement\u00a0but still\u00a0in negative territory,<\/p>\n<p>Greenback traders will be looking closely at US Gross Domestic Product (GDP) figures on Thursday, which is expected to hold steady at an annualized 2.1% for the second quarter.<\/p>\n<p>Thursday&#8217;s GDP print will be followed by a speech by the Federal Reserve&#8217;s (Fed) Chair <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/macroeconomics\/central-banks\/fed\">Jerome Powell<\/a>.<\/p>\n<p>The trading week will close out with US Personal <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/economic-calendar\/united-states\">Consumption Expenditure<\/a> (PCE) Price Index figures, the Fed&#8217;s preferred measure of\u00a0inflation.<\/p>\n<p>The US PCE inflation reading for August is <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/rates-charts\/forecast\">forecast<\/a> to hold steady at 0.2%.<\/p>\n<h2 class=\"fxs_headline_medium\">NZD\/USD technical outlook<\/h2>\n<p>The NZD\/USD is seeing mild consolidation on the hourly candles, and prices are cycling the 34-hour Exponential Moving Average (EMA) with technical support from the 200-hour Simple Moving Average (SMA) near 0.5935.<\/p>\n<p>Daily candlesticks see the NZD\/USD pinned to the 34-day EMA currently settling into 0.5960, and a significant break higher will run into the 100- and 200-day SMAs, near 0.6080 and 0.6180 respectively.<\/p>\n<p>Despite finding a technical floor from early September&#8217;s swing low into 0.5850, the NZD\/USD remains notably bearish, down -7.2% from July&#8217;s peak near 0.6415. Technical <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/rates-charts\/indicators\">indicators<\/a> are beginning to spread to the middle as directional momentum bleeds out of the pair, and the Relative Strength Index (RSI) is stuck in no man&#8217;s land near the 50.0 level.<\/p>\n<h2 class=\"fxs_headline_medium\">NZD\/USD daily chart<\/h2>\n<\/p>\n<h2 class=\"fxs_headline_medium\">NZD\/USD technical level<\/h2>\n<p>\u00a0<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Share: The NZD\/USD is drifting around 0.5950 for Tuesday after recovering from a knockback to 0.5935. The economic calendar is notably Kiwi-light this week. US GDP and\u00a0PCE inflation figures to dominate headlines through the mid-week. The NZD\/USD is trading back and forth for Tuesday, capped by the 0.5970 level as markets spread their Kiwi (NZD) [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":9305,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,656,255,388,250,715,252,247,253,249,256,254],"class_list":["post-163287","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gdp","tag-gta","tag-inflation","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\/163287","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=163287"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/163287\/revisions"}],"predecessor-version":[{"id":163288,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/163287\/revisions\/163288"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/9305"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=163287"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=163287"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=163287"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}