{"id":307852,"date":"2024-05-23T08:10:11","date_gmt":"2024-05-23T02:40:11","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=307852"},"modified":"2024-05-23T08:10:11","modified_gmt":"2024-05-23T02:40:11","slug":"nzd-usd-gains-traction-above-0-6100-ahead-of-us-pmi-data-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/nzd-usd-gains-traction-above-0-6100-ahead-of-us-pmi-data-crypto-news\/","title":{"rendered":"NZD\/USD gains traction above 0.6100 ahead of US PMI data &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div id=\"fxs_article_content\">\n<ul>\n<li><strong>NZD\/USD trades in positive territory near 0.6108 in Thursday\u2019s Asian session.\u00a0<\/strong><\/li>\n<li><strong>The RBNZ\u2019s hawkish hold has boosted the Kiwi.\u00a0<\/strong><\/li>\n<li><strong>Fed minutes\u00a0offered\u00a0the cautious tine, indicating worries over the lack of progress on inflation.<\/strong><\/li>\n<\/ul>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/currencies\/nzdusd\" data-fxs-autoanchor=\"\">The NZD\/USD pair<\/a> gains momentum around 0.6108 during the Asian trading hours on Thursday. The\u00a0New Zealand Dollar (NZD) edges higher as\u00a0the Reserve Bank of New Zealand (RBNZ) kept interest rates steady\u00a0and signaled\u00a0the\u00a0potential delay in interest rate cuts due to headwinds from sticky inflation.\u00a0<\/p>\n<p>The <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/macroeconomics\/central-banks\/rbnz\" data-fxs-autoanchor=\"\">RBNZ<\/a> decided to keep the policy rate steady at 5.50% for\u00a0the\u00a0seventh meeting in a row at its May meeting\u00a0on Wednesday.\u00a0The central bank noted in the statement that\u00a0\u201cthe welcome decline in inflation in part reflects lower inflation for goods and services imported into New Zealand. However, service inflation is receding slowly, and expected policy interest rate cuts\u00a0continue to\u00a0be\u00a0delayed.\u201d The RBNZ added that it expects inflation to ease within its target range by the end of 2024.\u00a0The hawkish hold of the New Zealand central bank\u00a0provides some support to\u00a0the Kiwi and creates a tailwind for the NZD\/USD pair.\u00a0<\/p>\n<p>On the USD\u2019s front, the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/macroeconomics\/central-banks\/fed\" data-fxs-autoanchor=\"\">Federal Reserve<\/a> (Fed) released the minutes of the April 30-May\u00a01\u00a0policy meeting on Wednesday, indicating that inflation\u00a0in recent months has been a lack of further progress toward the Fed\u2019s 2 percent objective.\u201d Investors continue to adjust their expectations for rate cuts this year, with nearly 60% odds of the first reduction in September, according to the CME FedWatch tool. The attention will shift to the advanced reading of the US Purchasing Managers\u00a0Index (PMI)\u00a0for May. In the case of a\u00a0stronger\u00a0reading, this might lift the Greenback and cap the pair\u2019s upside in the near term.\u00a0<br \/>\u00a0<\/p>\n<p>\u00a0<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>NZD\/USD trades in positive territory near 0.6108 in Thursday\u2019s Asian session.\u00a0 The RBNZ\u2019s hawkish hold has boosted the Kiwi.\u00a0 Fed minutes\u00a0offered\u00a0the cautious tine, indicating worries over the lack of progress on inflation. The NZD\/USD pair gains momentum around 0.6108 during the Asian trading hours on Thursday. The\u00a0New Zealand Dollar (NZD) edges higher as\u00a0the Reserve Bank [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":8280,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,333,277,715,252,247,253,714,249,256,254],"class_list":["post-307852","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-macroeconomics","tag-majors","tag-nzdusd","tag-oracle","tag-polygon","tag-quickswap","tag-rbnz","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/307852","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=307852"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/307852\/revisions"}],"predecessor-version":[{"id":307854,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/307852\/revisions\/307854"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/8280"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=307852"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=307852"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=307852"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}