{"id":314392,"date":"2024-05-31T23:33:17","date_gmt":"2024-05-31T18:03:17","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=314392"},"modified":"2024-05-31T23:33:17","modified_gmt":"2024-05-31T18:03:17","slug":"nzd-usd-rallies-to-0-6160-as-us-dollar-weakens-after-steady-us-pce-inflation-report-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/nzd-usd-rallies-to-0-6160-as-us-dollar-weakens-after-steady-us-pce-inflation-report-crypto-news\/","title":{"rendered":"NZD\/USD rallies to 0.6160 as US Dollar weakens after steady US PCE Inflation report &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div id=\"fxs_article_content\">\n<ul>\n<li><strong>NZD\/USD advances strongly to 0.6160 as the US Dollar slumps after US PCE Inflation grew as expected in April.<\/strong><\/li>\n<li><strong>Stubbornly elevated US inflation would dent Fed rate-cut bets for September.<\/strong><\/li>\n<li><strong>Investors shift focus to US ISM PMI and Employment data.<\/strong><\/li>\n<\/ul>\n<p>The <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/currencies\/nzdusd\" data-fxs-autoanchor=\"\">NZD\/USD<\/a> pair soars to 0.6160 in Friday\u2019s New York session. The Kiwi asset witnesses significant buying interest as the US Dollar weakens after the United States (US) Personal Consumption Expenditure <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/economic-calendar\" data-fxs-autoanchor=\"\">Price Index<\/a> (PCE) report for April showed that price pressures grew in-line with estimates.<\/p>\n<p>Monthly and annual headline inflation grew expectedly by 0.3% and 2.7%, respectively. The core PCE inflation, which is Federal Reserve\u2019s (Fed) preferred inflation gauge as it strips off volatile food and energy prices, rose by 0.2%, slower than the estimates and the former release of 0.3% on a month-on-month basis. However, annual core PCE Inflation rose expectedly by 2.8%.<\/p>\n<p>Stubbornly elevated PCE inflation make unlikely for the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/macroeconomics\/central-banks\/fed\" data-fxs-autoanchor=\"\">Fed<\/a> to start reducing interest rates from the September meeting. The scenario is generally favorable for the US Dollar, however, it is weak due to downwardly revised US Q1 Gross Domestic Product (GDP) data. Revised estimate for Q1 GDP shows that the economy expanded at a slower pace of 1.3% from the preliminary estimate of 1.6%.<\/p>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/currencies\/us-dollar-index\" data-fxs-autoanchor=\"\">The US Dollar Index<\/a> (DXY), which tracks the Greenback\u2019s value against six major currencies, is down more than 0.3% around 104.40.<\/p>\n<p>Next week, investors will focus on the Manufacturing and the Services PMI, which will be published by the Institute of Supply Management (ISM) and the Nonfarm Payrolls (NFP) for May.<\/p>\n<p>The New Zealand Dollar remains firm even though China\u2019s National Bureau of Statistics (NBS) reported that the Manufacturing and Non-Manufacturing PMI for May missed estimates. In this situation, the New Zealand Dollar faces pressure, being a proxy for China\u2019s economic prospects.<\/p>\n<p>\u00a0<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>NZD\/USD advances strongly to 0.6160 as the US Dollar slumps after US PCE Inflation grew as expected in April. Stubbornly elevated US inflation would dent Fed rate-cut bets for September. Investors shift focus to US ISM PMI and Employment data. The NZD\/USD pair soars to 0.6160 in Friday\u2019s New York session. The Kiwi asset witnesses [&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":[201,248,251,246,257,459,366,255,388,250,715,252,1063,247,253,249,256,254],"class_list":["post-314392","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-dollarindex","tag-fed","tag-gta","tag-inflation","tag-looks-rare","tag-nzdusd","tag-oracle","tag-pmi","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/314392","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=314392"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/314392\/revisions"}],"predecessor-version":[{"id":314393,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/314392\/revisions\/314393"}],"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=314392"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=314392"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=314392"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}