NZD/USD turns south after posting modest losses on Monday. US Dollar Index rebounds toward 94.00 on Tuesday. CB Consumer Confidence data will be featured in US economic docket. The NZD/USD pair closed the first day of the week in the positive territory on Monday and touched its highest level of 2020 at 0.6703 in the early trading hours of the Asian session on Tuesday. However, with the greenback starting to gather strength against its major peers, the pair reversed its direction and was last seen losing 0.55% on the day at 0.6645. DXY recovers toward 94.00 The cautious market mood, as reflected by falling global equity indexes, seems to be helping the USD find demand on Tuesday. The US Dollar Index (DXY), which extended its losing streak into a seventh straight day on Monday, is now up 0.15% on the day at 93.80. Additionally, the DXY’s rebound seems to be supported by a technical correction as well. In the second half of the day, the Conference Board’s Consumer Confidence and the Richmond Fed Manufacturing Index data will be featured in the US economic docket. More importantly, the FOMC will start its two-day meeting on Tuesday and announce its monetary policy and interest rate decisions on Wednesday. Earlier in the day, Statistics New Zealand reported that Total Filled Jobs improved to 2.2 million in June from 2.17 million in May but failed to provide a boost to the NZD. Technical levels to watch for 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 US Dollar Index Price Analysis: Interim resistance emerges around 94.20 FX Street 3 years NZD/USD turns south after posting modest losses on Monday. US Dollar Index rebounds toward 94.00 on Tuesday. CB Consumer Confidence data will be featured in US economic docket. The NZD/USD pair closed the first day of the week in the positive territory on Monday and touched its highest level of 2020 at 0.6703 in the early trading hours of the Asian session on Tuesday. However, with the greenback starting to gather strength against its major peers, the pair reversed its direction and was last seen losing 0.55% on the day at 0.6645. DXY recovers toward 94.00 The cautious market mood,… 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.
