News Formal

NZD/USD pares gains after weaker NZIER Business Confidence, stays near 0.6040

  • 📰 FXStreetNews
  • ⏱ Reading Time:
  • 46 sec. here
  • 5 min. at publisher
  • 📊 Quality Score:
  • News: 32%
  • Publisher: 72%

NZDUSD News

Majors,Macroeconomics,Newzealand

NZD/USD retains its position in positive territory, although it has trimmed some intraday gains, following the release of weaker Business Confidence data from New Zealand on Tuesday.

NZD/USD faces struggles on contracted business outlook in New Zealand.

is anticipated to maintain cash rates at 5.5% for the sixth consecutive meeting on Wednesday. Headline US CPI could show an increase in March while the core measure is anticipated to cool down. At the time of writing, the pair trades near 0.6040 during the Asian session. The NZIER Business Confidence indicated a 25% contraction in the business outlook in New Zealand for the first quarter of 2024, compared to a 2% decline in the previous quarter.

is anticipated to maintain cash rates at 5.5% for the sixth consecutive meeting and emphasize the necessity to remain restrictive for a while longer to curb inflation. In February, the board indicated it would refrain from easing policy until 2025, citing worries about record immigration. The NZD/USD pair saw gains as risk appetite improved ahead of the upcoming release of Consumer Price Index data from the United States scheduled for Wednesday.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 14. in CA

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

New Zealand NZIER Business Confidence falls 25% QoQ in Q1 2024The New Zealand Business Confidence fell 25% QoQ in the first quarter (Q1) of 2024 from a 2% decline in the Q4 of 2023, the Quarterly Survey of Business Opinion (QSBO) from the New Zealand Institute of Economic Research (NZIER) showed on Tuesday.
Source: FXStreetNews - 🏆 14. / 72 Read more »

Asia-Pacific markets climb as investors await business confidence surveys and consumer confidence dataAsia-Pacific markets climbed Tuesday as investors awaited business confidence surveys from Australia and consumer confidence data from Japan, with focus also on U.S. inflation numbers to assess the Federal Reserve's rate cut path.
Source: NBCDFW - 🏆 288. / 63 Read more »

Asia markets climb ahead of consumer confidence data from Japan, business confidence survey from AustraliaInvestors in Asia will observe business confidence surveys out from Australia and consumer confidence data from Japan.
Source: NBCPhiladelphia - 🏆 569. / 51 Read more »