NZD/USD WEAKENS BELOW 0.6100 AS EASING NEW ZEALAND CPI PUSHES RBNZ RATE CUT BETS
- NZD/USD edges lower to 0.6080 in Thursday’s early Asian session, down 0.10% on the day.
- Fed officials said the central bank is 'closer' to cutting interest rates.
- The softer New Zealand CPI inflation data triggered rate-cut bets by the RBNZ this year.
The NZD/USD pair trades on a weaker note near 0.6080 during the early Asian session on Thursday. The prospect of an interest rate cut by the Reserve Bank of New Zealand (RBNZ) and China's economic woes continue to weigh on the Kiwi. Traders will take more cues from the US weekly Initial Jobless Claims and the Philly Fed Manufacturing Index on Thursday for fresh impetus. Also, the Fed’s Lorie Logan is set to speak later in the day.
Fed Governor Christopher Waller said on Wednesday that the US central bank is ‘getting closer’ to an interest rate cut as inflation's improved trajectory and the labor market are in better balance. Richmond Fed President Thomas Barkin said he is "very encouraged" that easing in inflation has begun to broaden and he would like to see it continue.”
Earlier this week, Fed Chair Jerome Powell said on Monday that the US central bank will not wait until inflation hits 2% to cut interest rates. The dovish comments from Fed officials might weigh on the Greenback and act as a tailwind for NZD/USD for the time being
Fed Governor Christopher Waller said on Wednesday that the US central bank is ‘getting closer’ to an interest rate cut as inflation's improved trajectory and the labor market are in better balance. Richmond Fed President Thomas Barkin said he is "very encouraged" that easing in inflation has begun to broaden and he would like to see it continue.”
Earlier this week, Fed Chair Jerome Powell said on Monday that the US central bank will not wait until inflation hits 2% to cut interest rates. The dovish comments from Fed officials might weigh on the Greenback and act as a tailwind for NZD/USD for the time being
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