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by The New Zealand dollar recently traded around $0.6182 (NZD/USD), following a rise to a three-month high. This increase was influenced by weaker-than-expected US economic data, which caused the US dollar to fall.
Specifically, the US ISM Manufacturing PMI for April contracted more than anticipated, and construction spending decreased for the second month. These indicators suggest the Federal Reserve might consider cutting interest rates later this year.
NZDUSD Fundamental Analysis – June-3-2024
Vital Economic Reports to Watch This Week
Investors are keenly watching the upcoming US ISM Services PMI on Wednesday, and the jobs report on Friday for further clues about the economic outlook. These reports will provide more insights into the health of the US economy and could influence the Federal Reserve’s future policy decisions.
RBNZ Rate Cut Delayed to 2025
Market expectations for a rate cut from the Reserve Bank of New Zealand (RBNZ) have been postponed. The RBNZ has indicated that it plans to keep its policy steady until mid-2025. This suggests a period of stability for New Zealand’s monetary policy, providing a more precise outlook for businesses and consumers.
Staying informed about these economic indicators and central bank policies can help individuals and businesses make better financial decisions in a dynamic global market.
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