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June 28, 2023NZD/USD drops 77 pips early on and steadies around the 0.6089 level.
United States's Crude Oil Inventories new data released of -9.60 million below its previous figure.
Highly important Consumer Confidence data from United States beat analyst expectations of 104 with a reading of 109.7.
On the flip side, positive data for the Kiwi released earlier when highly important Crude Oil Inventories data from United States beat analyst expectations of -1.76 million with a reading of -9.60 million.
Amid the market gloom, United States New Home Sales (May) released yesterday at 14:00 UTC with a figure of 763,000, while the previous figure was 680,000.
In the meantime, negative performances are seen in other pairs, GBP/USD is trading around 1.2638 (down 110 pips). AUD/USD drops 1% to trade around 0.6621.
Positive performances can be seen by looking at other currencies as EUR/NZD is up 0.83% to 1.7921.
Some optimism can drawn from the fact that United States GDP projected to come out at 1.4 — worse than previous data of 2.6; data will be released tomorrow at 12:30 UTC. Projections for United States Initial Jobless Claims are set for a continuation of decline with 266,000 while previous data was 264,000; data will be released tomorrow at 12:30 UTC.
Furthermore, New Zealand ANZ Business Confidence (Jun) will be released tomorrow at 01:00 UTC.
The Kiwi is now trading 10.79% away from its significant low of 0.5566 first tested 8 months ago.
