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March 07, 2023NZD/USD recovering almost all the way back to 0.6198 today, after dipping down to 0.6176.
United States Fed Chair Powell testimony is next today at 15:00 UTC.
Meanwhile, United States Factory Orders released yesterday at 15:00 UTC is better than expected at -1.6% but down from preceding data of 1.7% according to new data.
In the meantime, negative performances are also seen in other pairs as AUD/USD is down to 0.6666, losing 69 pips, after closing at 0.6735 in the preceding trading session.
Though the Kiwi has been dropping, other pairs have been performing better: EUR/AUD rallies 0.81% to trade around 1.6. Having closed the previous session at 0.9309, USD/CHF is up 0.27% today to currently trade at around 0.9335.
In addition, United States Crude Oil Inventories expected to decline to -308,000 while its preceding data was 1.17 million, data will be available tomorrow at 15:30 UTC.
Furthermore, New Zealand Electronic Card Retail Sales (MoM) (Feb) is expected tomorrow at 21:45 UTC. New Zealand Retail Price Index is expected today at 15:00 UTC.
The currency pair has been trending lower for about a month. Having set a significant low of 0.5566 4 months ago, the New-Zealand Dollar is trading 11.35% higher.
