Anzo Capital
Anzo Capital Representative
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New Zealand Dollar Hits Near 1-Year Low
The New Zealand dollar slid below $0.58, marking its lowest point in nearly a year. This decline was primarily driven by the strengthening US dollar and rising Treasury yields, supported by strong US economic data, which drove expectations of a more hawkish Federal Reserve monetary policy.
In addition to these factors, geopolitical risks in the Middle East and economic uncertainties in other major economies led traders to avoid riskier assets.
Furthermore, the Kiwi faced downward pressure due to a decrease in domestic inflation, which reduced the likelihood of another interest rate hike by the Reserve Bank of New Zealand. The country's headline inflation rate dropped to a two-year low of 5.6% in the September quarter, marking the third consecutive quarterly slowdown following a cumulative 525 basis points of rate hikes since October 2021.
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Not financial advice. Investment involves risk.
Source: TradingView
#NZDUSD #TradingView #NewZealandDollar #USDollar #ReserveBank #inflation #Kiwi #anzocapitalglobal #anzo #anzocapital #foreignexchange #fx #trends #finance #finances #investing #trading #traders #october
The New Zealand dollar slid below $0.58, marking its lowest point in nearly a year. This decline was primarily driven by the strengthening US dollar and rising Treasury yields, supported by strong US economic data, which drove expectations of a more hawkish Federal Reserve monetary policy.
In addition to these factors, geopolitical risks in the Middle East and economic uncertainties in other major economies led traders to avoid riskier assets.
Furthermore, the Kiwi faced downward pressure due to a decrease in domestic inflation, which reduced the likelihood of another interest rate hike by the Reserve Bank of New Zealand. The country's headline inflation rate dropped to a two-year low of 5.6% in the September quarter, marking the third consecutive quarterly slowdown following a cumulative 525 basis points of rate hikes since October 2021.
*Experience trading your preferred financial instruments with a top-tier brokerage firm.
Don't miss out: https://bit.ly/fpa_open_live
Not financial advice. Investment involves risk.
Source: TradingView
#NZDUSD #TradingView #NewZealandDollar #USDollar #ReserveBank #inflation #Kiwi #anzocapitalglobal #anzo #anzocapital #foreignexchange #fx #trends #finance #finances #investing #trading #traders #october