NZD/USD rally capped by strengthening US Dollar, housing market recovery

📆 17/05/2023 15:55:00
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NZD/USD rally capped by strengthening US Dollar, housing market recovery – by christianborjon NZDUSD Currencies Majors Macroeconomics

shows the housing market seems to recover. Therefore, the US Dollar is appreciating and putting a lid on the NZD/USD rise. The NZD/USD is trading at 0.6238 after hitting a daily low of 0.6224.The NZD/USD remains underpinned by an upbeat sentiment, though at the brisk that a sudden shift could turn into losses. US debt ceiling discussions would continue today after Tuesday’s talks improved, although US House Speaker McCarthy said the two sides remain apart.

That, alongside solid US Retail Sales and Industrial Production, revealed on Tuesday, keeps the US Dollar in the driver’s seat, cushioning the NZD/USD’s rally. The US Dollar Index , a gauge that tracks the performance of six currencies vs. the USD, climbs 0.33%, up at 102.937, a headwind for the NZD/USD.

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