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March 14, 2023After closing the previous trading day at 0.622, NZD/USD is up to 0.6225, which makes for a move of 0.07%/4 pips today.
United States Consumer Price Index is next today at 12:30 UTC.
Meanwhile, United States Participation Rate (Feb) released yesterday at 13:30 UTC with a figure of 118.3, while the previous figure was 62.4.
A look at other currencies also shows bullish price action as USD/JPY rises 0.2% to trade around 133.46.
While the Kiwi is up today, these currencies are lagging behind: EUR/CAD is down to 1.469, losing 37 pips, after closing at 1.4728 in the preceding trading session. EUR/USD is down 19 pips from the beginning of the session and now trades around 1.071.
Furthermore, the market is looking at projections for New Zealand GDP are set for a continuation of decline with -0.1 while previous data was two; data will be released tomorrow at 21:45 UTC.
Also worthy of note, New Zealand Current Account figure is projected at -7.64 billion. It previously stood at -10.2 billion; data will be released today at 21:45 UTC. New Zealand Current Account figure is projected at -30,900,000,%. It previously stood at -29,650,000,%; data will be released today at 21:45 UTC.
The currency pair has been trending lower for about a month. The New-Zealand Dollar is now trading 11.76% away from its significant low of 0.5566 first tested 5 months ago.
