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May 09, 2023NZD/USD recovering almost all the way back to 0.6347 today, after dipping down to 0.6321.
The Kiwi is currently trading at 0.6337 following the release of EIA Short-Term Energy Outlook data from the United States.
While price action maintains a negative bias, New Zealand Electronic Card Retail Sales (MoM) (Apr) came out at 0.7, while a consensus of analysts was expecting -0.2. United States API Weekly Crude Oil Stock released today at 20:30 UTC with a figure of 3.62 million, while the previous figure was -3.94 million. United States 3-Year Note Auction released today at 17:00 UTC with a figure of 3.695, while the previous figure was 3.81.
In the meantime, negative performances are also seen in other pairs as EUR/USD closed at 1.096 (down 0.44%). EUR/GBP is down to 0.8683, losing 35 pips, after closing at 0.8718 in the preceding trading session.
Though the Kiwi has been dropping, other pairs have been performing better: USD/SGD gained 0.22% and is currently trading at 1.3274.
Moreover, tomorrow at 14:30 UTC data for United States Crude Oil Inventories will be released, with an expected decline to -1.6 million from the preceding figure of -1.28 million.
Furthermore, United States Consumer Price Index is expected tomorrow at 12:30 UTC. United States Core Consumer Prices is expected tomorrow at 12:30 UTC.
As things stand, the New-Zealand Dollar is 14.03% away from a significant low of 0.5566 first set 6 months ago.
