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May 11, 2023NZD/USD reached 0.6386, breaking a 2 months record. Later, it lost 9 pips and is now trading at 0.6377.
United States Producer Price Index data will be released today at 12:30 UTC, with an expected improvement to 0.3% (previous figure was -0.5%).
Nevertheless, data for United States Crude Oil Inventories published yesterday at 14:30 UTC came out at 2.95 million, beating projections of -917,000 and showing improvement over the preceding figure of -1.28 million.
At the same time, United States Consumer Price Index came out at 4.9%, while a consensus of analysts was expecting 5%. United States Core Consumer Prices released yesterday at 12:30 UTC with a figure of 0.4%, while the previous figure was 0.4%.
Other currencies are also rising as USD/CHF is up 0.12%.
At the same time, GBP/NZD is down to 1.9793, losing 30 pips, after closing at 1.9823 in the preceding trading session. EUR/JPY is down to 147.3, losing 17 pips, after closing at 147.47 in the preceding trading session.
Positive indicators for the Kiwi are expected going forward as United States Initial Jobless Claims projected to decline to 245,000 while previous data was 242,000; data will be released today at 12:30 UTC.
Furthermore, the market is looking at United States Producer Price Index is projected to outperform its last figure with 0.3%. It previously stood at -0.5%; data will be released today at 12:30 UTC.
Elsewhere, New Zealand Business NZ PMI (Apr) is expected today at 22:30 UTC. New Zealand Inflation Expectations (QoQ) is scheduled for tomorrow at 03:00 UTC.
As things stand, the New-Zealand Dollar is 14.41% away from a significant low of 0.5566 first set 6 months ago.
