The post NZD/USD advances to two-month peak, around mid-0.5700s amid weaker USD appeared on BitcoinEthereumNews.com.

NZD/USD gains positive traction for the third straight day amid sustained USD selling. The divergent Fed-RBNZ expectations warrant caution for aggressive bullish traders.  Last week’s breakout above the 0.5700 mark supports prospects for additional gains. The NZD/USD pair attracts buyers for the third successive day on Monday and climbs to a two-month peak, around the 0.5750 area during the Asian session amid the prevalent US Dollar (USD) selling bias.  The global risk sentiment gets a minor lift from the latest optimism led by US President Donald Trump’s approach to ending the protracted Russia-Ukraine war. Apart from this, a delay in Trump’s reciprocal tariffs keeps the USD depressed near its lowest level since 17 touched on Friday and acts as a tailwind for the NZD/USD pair.  The Greenback is further undermined by Friday’s disappointing US Retail Sales, which dropped by the most in nearly two years in January. In fact, The US Census Bureau reported that Retail Sales declined by 0.9% during the reported month, worse than the decrease of 0.1% expected and the 0.7% increase (revised from 0.4%) in December.  That said, the growing acceptance that the Federal Reserve (Fed) would stick to its hawkish stance amid still-sticky inflation could help limit further USD losses. Apart from this, the increasing likelihood that the Reserve Bank of New Zealand (RBNZ) will deliver a third supersized rate cut later this month might cap the NZD/USD pair.  From a technical perspective, last week’s breakout through the 0.5700 round figure favors bullish traders and supports prospects for a further near-term appreciating move for spot prices. Hence, any corrective pullback might still be seen as a buying opportunity and remain limited ahead of the crucial RNNZ meeting on Wednesday. New Zealand Dollar FAQs The New Zealand Dollar (NZD), also known as the Kiwi, is a…

---

Filed under: News - @ February 17, 2025 3:23 am