NZD/USD rises to 0.6250 on soft USD, with traders eyeing NZ data NZDUSD Majors Macroeconomics Technical Analysis
rising sharply. US equities are pointing toward registering losses, which could weigh on risk-sensitive currencies at the beginning of the Asian session. At the time of writing, the NZD/USD is gaining 1.16% or 71 pips.Wall Street is set for a lower close. The Institute for Supply Management reported that the February US Manufacturing Purchasing Managers’ Index was 47.7, lower than the estimated value of 48. Although it seems to have stabilized compared to the previous month’s reading of 47.4.
The NZD/USD trimmed some of its earlier gains on the ISM release and dipped toward 0.6222, before resuming the uptrend, despite hawkish comments by Federal Reserve officials.
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