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June 07, 2023Slightly weaker but mostly flat: NZD/USD is currently trading at 0.6078 as it maintains an active range between 0.6044 and 0.61.
While price action maintains a negative bias, New Zealand Retail Price Index released yesterday at 12:00 UTC with a figure of -0.9, while the previous figure was -0.9. United States API Weekly Crude Oil Stock came out at -1.71 million, while a consensus of analysts was expecting 1.5 million.
In the meantime, negative performances are seen in other pairs, EUR/JPY closed at 148.91 (down 0.26%). USD/JPY slumps 0.25% to trade around 139.28. GBP/JPY decreases 0.21% to trade around 173.
Moreover, today at 14:30 UTC data for United States Crude Oil Inventories will be released, with an expected decline to 1.15 million from the preceding figure of 4.49 million. Projections for United States Initial Jobless Claims are set for a continuation of decline with 238,000 while previous data was 232,000; data will be released tomorrow at 12:30 UTC.
Furthermore, New Zealand Business NZ PMI scheduled to come out tomorrow at 22:30 UTC.
Having set a peak of 0.65 around 4 months ago, the Kiwi is now trading 6.47% below this level.
