Wall Street sees partial recovery from Thursday’s losses due to disappointing tech company earnings, while a lack of US economic data keeps focus on the upcoming Federal Open Market Committee (FOMC) meeting.
Expectations of a 25 bps hike by the Federal Reserve past the July meeting are increasing following a week of robust US labor market data.
The Reserve Bank of New Zealand’s (RBNZ) decision to maintain current rates contributes to the NZD’s weekly losses of nearly 3%,
NZD/USD dives below the 0.6200 figure, extending its losses past the 200-day Exponential Moving Average (EMA) of 0.6226, with the pair extending its losses to six straight days on overall US Dollar strength. At the time of writing, the NZD/USD is exchanging hands at 0.6175 after dropping from a daily high of 0.6240.
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