AUD selloff weighs on the kiwi on Wednesday. US Dollar Index stays near multi-month highs. The broad-based USD strength on Tuesday weighed on the NZD/USD pair and caused it to close with a daily loss of 30 pips. With the antipodean coming under a renewed selling pressure in the Asian session, the pair extended its slide and touched its lowest level since January 2 at 0.6613. As of writing, the pair was trading at 0.6623, losing 0.33% on a daily basis. Earlier today, the data published by the Australian Bureau of Statistics revealed that the inflation, as measured by the Consumer Price Index, in the first quarter of the year stayed unchanged to miss the market expectation for an increase of 0.2% and weighed on the AUD by reviving expectations of the Reserve Bank of Australia going for a rate cut in May. The strongly-correlated kiwi also weakened against the greenback following this data release. The next data release from New Zealand will be Friday’s trade balance data following tomorrow’s ANZAC Day holiday. On the other hand, the US Dollar Index, which gained traction yesterday as strong first-quarter earnings figures from big U.S. corporations eased concerns over an economic slowdown and allowed investors to price a hawkish shift in the FOMC’s policy stance, is clinging to its gains. At the moment, the index is up 0.1% on the day at 97.70, looking to challenge yesterday’s high of 97.78. Technical levels to consider FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next GBP/USD Technical Analysis: Consolidates overnight bearish break below 200-DMA/descending triangle FX Street 4 years AUD selloff weighs on the kiwi on Wednesday. US Dollar Index stays near multi-month highs. The broad-based USD strength on Tuesday weighed on the NZD/USD pair and caused it to close with a daily loss of 30 pips. With the antipodean coming under a renewed selling pressure in the Asian session, the pair extended its slide and touched its lowest level since January 2 at 0.6613. As of writing, the pair was trading at 0.6623, losing 0.33% on a daily basis. Earlier today, the data published by the Australian Bureau of Statistics revealed that the inflation, as measured by the… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
