The post NZD/USD spun in a tight circle on Wednesday appeared on BitcoinEthereumNews.com.

The New Zealand Dollar is holding near multi-month highs against the US Dollar following Wednesday’s US Non-Farm Payrolls (NFP) report, which showed 130K jobs added in January, above the 70K forecast, but was overshadowed by an 898K downward benchmark revision to 2025 payroll data that reinforced the view of a deteriorating US labor market. The Federal Reserve (Fed) held rates at 3.50% to 3.75% at its January meeting, and markets are now pricing in two additional cuts this year as the soft labor trend points to further easing. For the New Zealand Dollar, the Reserve Bank of New Zealand (RBNZ) is expected to hold the Official Cash Rate (OCR) at 2.25% at its February 18 meeting, with the focus on whether the bank brings forward its projected timeline for eventual rate increases. The RBNZ’s easing cycle saw six cuts through 2025, bringing rates from 5.50% to 2.25%, but the economy is showing signs of stabilization and inflation is near the top of the 1% to 3% target band. Thursday brings the Business NZ Purchasing Managers Index (PMI) for January, while Friday’s RBNZ Inflation Expectations for Q1 could shift rate expectations if they show upward price pressures. The week’s main risk event is Friday’s US Consumer Price Index (CPI) for January, with consensus at 2.5% year-over-year for the headline and 0.3% month-over-month for the core reading; a downside surprise would add further pressure on the US Dollar. NZD/USD price forecast On the daily chart, NZD/USD is trading at 0.6051, up 0.10% on the session, consolidating just below the recent swing high of 0.6094. Price is well above both the 50-day Exponential Moving Average (EMA) at 0.5881 and the 200-day EMA at 0.5833, confirming a bullish trend with higher highs and higher lows since the November low near 0.5580. The pair rallied…

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Filed under: News - @ February 12, 2026 12:26 am