The NZD/USD pair remains under selling pressure around 0.5880 on Friday during the early European session. The risk-off environment amid the escalating tension between Israel and Iran lifts the Greenback and weighs on NZD/USD. Meanwhile, the US Dollar Index (DXY) edges higher above 106.20, nearly the highest level since November 2023.
US officials revealed that Israel carried out military strikes against Iran. The officials said Israel told the Biden administration early on Thursday that an attack would be launched within the next 24 to 48 hours. Israeli officials informed the US that Iran's nuclear facilities would not be targeted, according to CNN. Investors will monitor the developments surrounding geopolitical tensions in the Middle East. The turmoil and conflict in this region could boost safe-haven flows, benefiting the US Dollar.
Apart from this, the higher possibility that the US Federal Reserve (Fed) might delay interest rate cuts further provides some support to the USD. Several Fed officials agreed that US inflation remains high and that the US central bank needs more confidence in its trajectory.
On the Kiwi front, data released from Statistics New Zealand showed that the nation’s inflation has continued to fall. However, it remains above the Reserve Bank of New Zealand’s (RBNZ) target range of 1 to 3%. This might convince the RBNZ to keep the interest rate high for longer, which might help the New Zealand Dollar (NZD) to limit its losses.
Overview | |
---|---|
Today last price | 0.5881 |
Today Daily Change | -0.0021 |
Today Daily Change % | -0.36 |
Today daily open | 0.5902 |
Trends | |
---|---|
Daily SMA20 | 0.5978 |
Daily SMA50 | 0.6067 |
Daily SMA100 | 0.6127 |
Daily SMA200 | 0.6057 |
Levels | |
---|---|
Previous Daily High | 0.5943 |
Previous Daily Low | 0.5872 |
Previous Weekly High | 0.6079 |
Previous Weekly Low | 0.5933 |
Previous Monthly High | 0.6218 |
Previous Monthly Low | 0.5956 |
Daily Fibonacci 38.2% | 0.5899 |
Daily Fibonacci 61.8% | 0.5916 |
Daily Pivot Point S1 | 0.5869 |
Daily Pivot Point S2 | 0.5835 |
Daily Pivot Point S3 | 0.5798 |
Daily Pivot Point R1 | 0.594 |
Daily Pivot Point R2 | 0.5977 |
Daily Pivot Point R3 | 0.6011 |
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