{"id":164707,"date":"2023-09-29T00:28:49","date_gmt":"2023-09-28T18:58:49","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=164707"},"modified":"2023-09-29T00:28:49","modified_gmt":"2023-09-28T18:58:49","slug":"nzd-usd-capped-by-0-5970-for-thursday-as-us-dollar-drives-the-market-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/nzd-usd-capped-by-0-5970-for-thursday-as-us-dollar-drives-the-market-crypto-news\/","title":{"rendered":"NZD\/USD capped by 0.5970 for Thursday as US Dollar drives the market &#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 Kiwi is facing upside momentum, climbing nearly a percent against the Greenback for Thursday.<\/strong><\/li>\n<li><strong>Ongoing market unease over China property woes is capping upside potential for the NZD.<\/strong><\/li>\n<li><strong>A broad-market DXY selloff\u00a0sees the NZD\/USD up around 50 pips for the day.<\/strong><\/li>\n<\/ul>\n<p>The NZD\/USD has ticked about five basis points higher through Thursday&#8217;s market trading, driven by a receding Greenback (USD). Ongoing economic concerns and spiking US Treasury yields has seen the USD bolstered across the broader market this week, but Thursday sees a step back in US Dollar action, giving the Kiwi (NZD) a brief reprieve and recovering some recent losses.<\/p>\n<p>China&#8217;s ongoing property debacle continues to sap confidence in the Asia sector currencies. Evergrande, the world&#8217;s single most indebted property developer, had its chairman Hui Ka Yan placed under police watch this week as funding and liquidity concerns grip China&#8217;s real estate sector. China&#8217;s real estate and property development segment has reached such an outsized proportion of China&#8217;s domestic economy that increased instability in construction could threaten the rest of the economy.<\/p>\n<h2 class=\"fxs_headline_medium\">Next Up: US PCE inflation reading to close out the week<\/h2>\n<p>There is little of note on the economic calendar for the Kiwi, and market participants will be looking ahead to the US Personal <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/economic-calendar\/united-states\">Consumption Expenditure<\/a> (PCE) Price Index figures due on Friday at 12:30 GMT.<\/p>\n<p>The US PCE inflation reading is\u00a0forecast to hold steady for the month of August at the previous print of 0.2%, with the annualized figure for the same period seen tipping back from 4.2% to 3.9%.<\/p>\n<p>A beat on the Federal Reserve&#8217;s (Fed) favorite inflation indicator could see the USD spike further on the charts, as higher-than-expected inflation will be increasingly likely to push the Fed into holding higher interest rates for even longer than anticipated.<\/p>\n<h2 class=\"fxs_headline_medium\">NZD\/USD technical outlook<\/h2>\n<p>The <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/currencies\/nzdusd\">Kiwi<\/a> is currently capped under the 0.5970 handle after reaching an intraday high of 0.5975. The NZD\/USD has broken to the north side of a minor descending trendline on hourly candles, and near-term support is baked in at the 200-hour Simple Moving Average (SMA) near 0.5940.<\/p>\n<p>On daily candlesticks, the NZD\/USD is pinned to the 34-day Exponential Moving Average, and the pair is pricing in a floor from the 0.5900 major handle. Long-term moving averages are rolling over bearish, and the 200-day SMA is settling to the low side of 0.6200.<\/p>\n<p>Bidders will first have to crack the 34-day EMA and the 0.600 major psychological level before moving higher, while a resurgence of downside pressure will see the pair set to take a new run at ten-month lows below 0.5845.<\/p>\n<h2 class=\"fxs_headline_medium\">NZD\/USD hourly chart<\/h2>\n<\/p>\n<h2 class=\"fxs_headline_medium\">NZD\/USD daily chart<\/h2>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/editorial.fxstreet.com\/miscelaneous\/NZD_USDD-638315237645956644.png\" style=\"width: 898px;height: 697px\" \/><\/p>\n<h2 class=\"fxs_headline_medium\">NZD\/USD technical levels<\/h2>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Share: The Kiwi is facing upside momentum, climbing nearly a percent against the Greenback for Thursday. Ongoing market unease over China property woes is capping upside potential for the NZD. A broad-market DXY selloff\u00a0sees the NZD\/USD up around 50 pips for the day. The NZD\/USD has ticked about five basis points higher through Thursday&#8217;s market [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":18583,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,297,246,257,255,388,250,715,252,247,253,249,256,254],"class_list":["post-164707","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-china","tag-coin","tag-cryptocurrency","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\/164707","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=164707"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/164707\/revisions"}],"predecessor-version":[{"id":164709,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/164707\/revisions\/164709"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/18583"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=164707"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=164707"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=164707"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}