NZD/USD drops to a two-month low due to RBNZ rate cut bets, China's economy, and dovish Fed expectations.
NZD/USD drops to a two-month low as bets for an early RBNZ rate cut and China's economic woes weigh on the Kiwi. The pair also faces dovish Fed expectations and US politics. New Zealand's trade balance for June shows a surplus of 699mn NZD. The Australian Dollar could limit its downside due to a potential rate hike from the RBA, amid strong employment data indicating tight labor market conditions.
July 22, 2024
3 Articles