NZD/USD Extends Gains for Second Straight Day as RBNZ's Hawkish Move Offsets Softer China CPI of 1.0%
The New Zealand dollar extended its gains for the second straight day against the US dollar on Thursday, after the Reserve Bank of New Zealand raised the OCR 25bps to 2.50%, offsetting China's softer June Consumer Price Index at 1.0%, measured on a yearly basis, from 1.2% in May. The kiwi also holds support from the Business NZ Performance of Manufacturing Index, which grew to 59.7 in June, compared with 51.3 in May. In Thursday's G10 trading, NZD rose against all other currencies. The major event for the kiwi will be the Business NZ Purchasing Managers' Index for June, due on Thursday. For the USD, the major event will be the FOMC Minutes, due later on Wednesday. The NZD/USD pair was trading at 0.57442, with a 0.77% gain during Thursday's American trading hours at the time of writing.
Story updates
(Correction in the second-last paragraph.
The upcoming major USD event is Existing Home Sales for June, not FOMC Minutes) The New Zealand dollar extended its gains for the second straight day against the US dollar on Thursday, after the Reserve Bank of New Zealand raised the OCR 25bps to 2.50%, offsetting China's softer June Consumer Price Index at 1.0%, measured on a yearly basis, from 1.2% in May.
The kiwi also holds support from the Business NZ Performance of Manufacturing Index, which grew to 59.7 in June, compared with 51.3 in May.
In Thursday's G10 trading, NZD rose against all other currencies.
The major event for the kiwi will be the Business NZ Purchasing Managers' Index for June, due on Thursday.
For the USD, the major event will be the Existing Home Sales for June, due later on Thursday.
The NZD/USD pair was trading at 0.57442, with a 0.77% gain during Thursday's American trading hours at the time of writing.