NZD USD Trading finished the week with 0.6700% gains
NZD/USD Trading finished the week with 0.6700% gains, boosted by softer US CPI data.Consumer inflation expectations in the United States fell slightly, weighing on the US Dollar.NZD USD Trading Technical Analysis: Failure at 0.6400 is being cheered by sellers, who are expecting a drop to 0.6300.
After testing the current week’s high of 0.6417
After testing the current week’s high of 0.6417, the NZD/USD retraced and fell below the 0.6400 level, as the pair consolidated in the 0.6300-0.6420 range over the previous week. Positive US consumer sentiment readings harmed the American Dollar (USD), which will finish the week lower. The NZD/USD spot price is 0.6389 at the time of writing, down slightly by 0.03%.
Despite a risk-on impulse in NZD USD Trading
Despite a risk-on impulse, the NZD/USD maintained its daily gains as the week came to a close. Investors cheered the release of US inflation data on Thursday, which raised hopes for slower rate hikes by the US Federal Reserve (Fed), weakening the US Dollar (USD). According to the CME FedWatchTool, the Fed’s