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NZD/USD edges lower to near 0.5610 in Thursday’s early Asian session. Fed officials said they will slow the pace of rate cuts due to the uncertainty, minutes of the meeting showed Wednesday. Chinese December CPI inflation data will be released on Thursday. The NZD/USD pair trades with mild losses to around 0.5610 during the early Asian session on Thursday. The expectation of a slower rate cut by the Federal Reserve (Fed) continues to underpin the US Dollar (USD) broadly.  Minutes released on Wednesday showed that Fed policymakers expressed concern about inflation and the impact that President-elect Donald Trump’s policies could have. Fed officials indicated they would be moving more slowly on rate reductions because of the uncertainty.  Fed officials pencilled the expected cuts in 2025 to two from four in the previous estimate at September’s meeting. A more hawkish stance of the US central bank and the signal that it would slow the pace of rate cuts in 2025 provide some support to the Greenback and act as the headwind for NZD/USD.  Investors await the Chinese December Consumer Price Index (CPI) inflation data, which is due later on Thursday. Several Fed officials are scheduled to speak later in the day. On Friday, the US Nonfarm Payrolls (NFP) for December will be in the spotlight.  On Tuesday, the National Development and Reform Commission (NDRC), China’s top economic planner, issued a guideline for building a unified national market, breaking down market barriers to boost domestic demand while enhancing openness. The fresh supportive measures from China could boost the Kiwi, as China is a major trading partner for New Zealand.  New Zealand Dollar FAQs The New Zealand Dollar (NZD), also known as the Kiwi, is a well-known traded currency among investors. Its value is broadly determined by the health of the New Zealand economy…

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Filed under: News - @ January 8, 2025 11:24 pm