The post NZD/USD backslides as risk-off pressure builds appeared on BitcoinEthereumNews.com.

NZD/USD fell over 0.7% on Thursday, settling close to 0.5900 and touching its lowest level since late January. The pair has now given back the bulk of its February gains, with a series of lower highs since peaking near 0.6090 in early February pointing to fading bullish momentum. Thursday’s session saw price slip through the cluster of support near the 0.5920 area, with the bearish candle closing near the session low and showing little sign of a bounce. The Reserve Bank of New Zealand (RBNZ) held the Official Cash Rate (OCR) at 2.25% in February, with new Governor Anna Breman adopting a notably dovish tone. Breman pushed the first potential rate hike out to late 2026 at the earliest, signaling that the economy has room to recover without triggering inflation. Overnight index swaps softened roughly eight basis points after the decision, and market pricing for a September hike has since dropped to about 40% from 68% before the meeting. The growing policy gap with the Reserve Bank of Australia (RBA), which raised rates to 3.85% in February and is weighing another hike for May, continues to weigh on the Kiwi relative to its trans-Tasman peer. On the US Dollar (USD) side, safe-haven demand from the escalating Iran conflict is driving broad Greenback strength, with the Strait of Hormuz effectively closed and US Crude Oil prices surging past $80 per barrel for the first time since mid-2024. New Zealand’s heavy reliance on imported oil makes the Kiwi particularly vulnerable to sustained energy price increases. The Federal Reserve (Fed) held rates at 3.50% to 3.75% in January, with minutes showing a hawkish tilt. Friday’s Non-Farm Payrolls (NFP) report, forecast around 60K, is the next major event risk. NZD/USD daily chart Technical Analysis In the daily chart, NZD/USD trades at 0.5898. The near-term…

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Filed under: News - @ March 5, 2026 11:23 pm