NZD/USD gains amid USD weakness and dovish Fed expectations; GBP/NZD rises due to UK PMI results and falling retail activity.
NZD/USD gains traction amid USD weakness and dovish Fed expectations. The pair attracts dip buyers near 0.5880, but lacks bullish conviction. US PCE data confirms easing price pressures, reinforcing bets for Fed rate cuts in Dec. GBP/NZD rises by 1.6% over the past week, with positive UK PMI results and a disappointing CBI report. Bets for an interest rate cut grow as UK's inflation data shows decelerating wage growth and falling retail activity.
July 29, 2024
3 Articles