- US Dollar Index drops below 100.50 on Friday.
- Market sentiment recovers slightly ahead of American session.
- Coming up: Durable Goods Orders and UoM Consumer Sentiment Index data from US.
The NZD/USD pair closed the day a little above the 0.6000 handle on Thursday and spent the Asian session in a calm manner amid a lack of fresh fundamental drivers and the ANZAC Day holiday in New Zealand.
With the market sentiment improving slightly ahead of the American session, the greenback started to weaken against its peers and allowed the pair to edge higher. As of writing, the pair was virtually unchanged on the day at 0.6005. Nevertheless, the pair stays confined in its tight daily range and waits for the key macroeconomic data releases from the US.
Eyes on US data
March Durable Goods Orders and the University of Michigan’s Consumer Sentiment Index for April (final) will be featured in the US economic docket on Friday.
Previewing the Durable Goods Orders data, “Durable Goods Orders are forecast to plunge 11.9% in March, the largest drop in six years,” noted FXStreet analyst Joseph Trevisani. “Non-defense capital goods orders, a proxy for business spending, are expected to fall 5.7% in their biggest decline since the financial crisis.” Ahead of these data, the US Dollar Index is posting modest daily gains near 100.40.
Technical levels to watch for
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