NZD/USD started the new week with a bearish gap. US Dollar Index consolidates last week’s gains below 92.00. Focus shifts to mid-tier US data, FOMC Chairman Powell’s speech. The NZD/USD pair started the week with a bearish gap but staged a modest rebound in the early trading hours of the European session. As of writing, the pair was posting small daily gains at 0.7168. Focus shifts to FOMC Chairman Powell’s speech The risk-averse market environment, as reflected by the poor performance of major Asian equity indexes, helped the greenback gather strength against its major rivals in the Asian session. The US Dollar Index (DXY), which closed the previous week in the positive territory, rose to a daily high of 92.15 but lost its traction ahead of FOMC Chairman Jerome Powell’s speech at 1300 GMT. A more-than-2% decline in the 10-year US Treasury bond yield seems to be making it difficult for the USD to preserve its strength. At the moment, the DXY is virtually unchanged on the day at 91.90. Chicago Fed National Activity Index and Existing Home Sales data will be featured in the US economic docket as well. Meanwhile, the S&P 500 Futures are flat on the day, suggesting that investors could remain cautious in the second half of the day and allow the USD to stay resilient against its rivals. On Tuesday, Westpac Consumer Servey for the first quarter and February Credit Card Spending from New Zealand will be looked upon for fresh impetus. 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 SEC v. Ripple: Exchanges that relist XRP would not violate securities regulation FX Street 2 years NZD/USD started the new week with a bearish gap. US Dollar Index consolidates last week's gains below 92.00. Focus shifts to mid-tier US data, FOMC Chairman Powell's speech. The NZD/USD pair started the week with a bearish gap but staged a modest rebound in the early trading hours of the European session. As of writing, the pair was posting small daily gains at 0.7168. Focus shifts to FOMC Chairman Powell's speech The risk-averse market environment, as reflected by the poor performance of major Asian equity indexes, helped the greenback gather strength against its major rivals in the Asian session. 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.
