- NZD/USD is seeking more upside above 0.6500 as the risk profile is supporting risk-perceived assets.
- US inflation softening resulted in a decline in the US Dollar Index below 101.60.
- Investors are awaiting the release of the US S&P PMI and NZ Inflation data for fresh cues.
The NZD/USD pair is aiming to extend its upside journey above the psychological resistance of 0.6500 in the early Asian session. The kiwi asset is eyeing a recovery extension amid a cheerful market mood. Soaring expectations of a further slowdown in the pace of policy tightening by the Federal Reserve (Fed) is infusing strength into the risk-sensitive assets.
In early Tokyo, S&P500 futures are showing marginal losses after a bullish Monday. Caution is stemming, however, the overall market sentiment is strictly positive. Investors’ risk appetite is still solid as meaningful softening United States inflation is setting grounds for a deceleration in the interest rates hiking pace.
Support authors and subscribe to content
This is premium stuff. Subscribe to read the entire article.