Confirming you are not from the U.S. or the Philippines

By giving this statement, I explicitly declare and confirm that:
  • I am not a U.S. citizen or resident
  • I am not a resident of the Philippines
  • I do not directly or indirectly own more than 10% of shares/voting rights/interest of the U.S. residents and/or do not control U.S. citizens or residents by other means
  • I am not under the direct or indirect ownership of more than 10% of shares/voting rights/interest and/or under the control of U.S. citizen or resident exercised by other means
  • I am not affiliated with U.S. citizens or residents in terms of Section 1504(a) of FATCA
  • I am aware of my liability for making a false declaration.
For the purposes of this statement, all U.S. dependent countries and territories are equalled to the main territory of the USA. I accept full responsibility for the accuracy of this declaration and commit to personally address and resolve any claims or issues that may arise from a breach of this statement.
Cancel Confirm
We are dedicated to your privacy and the security of your personal information. We only collect emails to provide special offers and important information about our products and services. By submitting your email address, you agree to receive such letters from us. If you want to unsubscribe or have any questions or concerns, write to our Customer Support.
Confirm
Octa trading broker Sign up Log in
Octa trading broker
Open trading account
Trading news
Back
29 Dec 2023

NZD/USD hovers below 0.6350 amid stable US Dollar, Chicago PMI eyed

  • NZD/USD receives upward support amid stable US Dollar.
  • The New Zealand Dollar cheers on the possibility of RBNZ delaying policy easing.
  • The decline in US bond yields put pressure on the Greenback.
  • Softer US data increases the likelihood of the rate cuts by the Fed in early 2023.

NZD/USD posts gains after registering losses in Thursday’s session, trading higher around 0.6340 during the Asian session on Friday. The New Zealand Dollar (NZD) demonstrates strength as the Reserve Bank of New Zealand (RBNZ) is expected to potentially delay policy easing. This sentiment is reinforced by the releases of improved Consumer Confidence and Business Confidence data for November.

New Zealand's Gross Domestic Product (GDP) data showed contraction in the third quarter, indicating the impact of the higher RBNZ’s policy rates in the country. Governor Adrian Orr's careful strategy and recognition of upcoming challenges, especially in dealing with high inflation, underscore the intricacies of steering through the economic scenario. Moreover, ANZ analysts predict that a worldwide resurgence in risk appetite, coupled with the advantageous interest rate differential of the NZD, will fuel upward momentum into 2024.

The US Dollar (USD) faces challenges against the Kiwi Dollar (NZD) as the softer economic data from the United States (US) increases the likelihood of the US Federal Reserve (Fed) taking a more accommodative stance in its monetary policy decisions in early 2024.

The Greenback might have faced some resistance as Initial Jobless Claims unexpectedly rose higher than anticipated, reaching 218K for the week ending on December 23, surpassing the market's expectation of 210K. Additionally, Pending Home Sales for November turned flat at 0.0%, falling short of the anticipated 1.0% increase.

The upcoming Chicago Purchasing Managers' Index (PMI) for December, is set to be released on Friday. This adds another layer to our understanding of economic conditions in the Chicago region, contributing valuable insights to the broader assessment of the US economy. With no significant data on the Kiwi's agenda for the next week, traders will turn their attention to China's Caixin Manufacturing PMI for December on Tuesday, recognizing the significance of China and New Zealand's close trade partnership.

 

Dec 29, 2023

GBP/USD improves near 1.2740 on subdued US Dollar, focus on UK housing data

GBP/USD attempts to recover its losses registered in the previous session.
Read more Previous
Dec 29, 2023

USD/CAD gains ground below the mid-1.3200s on a modest US Dollar recovery

The USD/CAD pair recovers some lost ground during the Asian session on Friday.
Read more Next