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June 21, 2023NZD/USD rallies 37 pips (0.61%) deep into the session, trading at 0.6207.
The Kiwi is currently trading at 0.6207 following the release of Fed Chair Powell testimony data from the United States.
At the same time, New Zealand Retail Price Index came out at zero, while a consensus of analysts was expecting -2.4. United States Building Permits (May) released yesterday at 12:30 UTC with a figure of 1.49 million, while the previous figure was 1.15 million. United States API Weekly Crude Oil Stock came out at -1.25 million.
Other currencies are also rising as EUR/JPY soars 0.88% to trade around 155.75.
While the New-Zealand Dollar is up today, these currencies are lagging behind: GBP/NZD is down 114 pips from the beginning of the session and now trades around 2.057. USD/CHF closed at 0.8924 (down 0.59%).
Positive indicators for the Kiwi are expected going forward as tomorrow at 15:00 UTC data for United States Crude Oil Inventories will be released, with an expected decline to 1.87 million from the preceding figure of 7.92 million.
Elsewhere, New Zealand Balance of Trade is expected today at 22:45 UTC. New Zealand Balance of Trade is expected today at 22:45 UTC.
As things stand, the New-Zealand Dollar is 10.84% away from a significant low of 0.5566 first set 8 months ago.
