NZD/USD stays on the back foot amid trade pessimism. FOMC minutes offer no surprises. New Zealand Credit Card Spending decorates the domestic economic calendar. White House Deputy Press Secretary Judd Deere’s trade positive comments fail to ease the present skepticism surrounding the US-China phase one deal as the US President Donald Trump “likes what’s happening right now.” The US House is debating the Hong Kong Bill and risks escalation of dispute with China. Among all this, NZD/USD extends its earlier losses while taking rounds to 0.6415 at the start of Thursday’s Asian session. Following the United States’ (US) Senate’s passing of Hong Kong Human Rights And Democracy Act, doubts over any trade accord between the US and China rose as the dragon nation severely condemned the Trump administration’s act of interfering their internal issue. Also supporting the move was Reuters’ story suggesting no phase one deal between the global superpowers during this year. Increasing the voice is the latest CNBC news citing four sources who suggest the deal is in trouble because there is not an agreement between the US and China — even at the stage — on which tariffs would go and which tariffs would stay. Even so, Fox News’ Edward Lawrence quoted White House Deputy Press Secretary, Judd Deere, as saying that negotiations are continuing and progress is being made on the text of the phase-one agreement. The diplomat also conveyed President Trump’s saying in China, “China wants to make a deal. The question is: Do I want to make a deal? Because I like what’s happening right now. We’re taking in billions and billions of dollars.” Minutes of the Federal Open Market Committee’s (FOMC) latest monetary policy meeting offered no surprise as policymakers continue to be happy on the present path while leaving doors wide open for action in case needed. While trade/political headlines are likely to keep the driver’s seat, the economic calendar has October month Credit Card Spending (YoY) data from New Zealand. The initial signal to consumer spending indicates an improvement to 5.5% versus 4.8% prior. However, the Reserve Bank of New Zealand (RBNZ) officials have been hinting an action in February meeting and the same could be judged on the flow of incoming statistics. From the US, weekly jobless claims, Existing Home Sales and Philadelphia Fed Manufacturing Survey will keep traders busy during the later part of the day. Technical Analysis Given the quote’s another pullback from 100-day Exponential Moving Average (EMA), at 0.6426 now, prices could retest a 21-day EMA level of 0.6384 ahead of resting on five-week-old rising support line at 0.6353. 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 Poll shows almost one in five Labour voters are considering backing the Tories – The Telegraph FX Street 2 years NZD/USD stays on the back foot amid trade pessimism. FOMC minutes offer no surprises. New Zealand Credit Card Spending decorates the domestic economic calendar. White House Deputy Press Secretary Judd Deere's trade positive comments fail to ease the present skepticism surrounding the US-China phase one deal as the US President Donald Trump "likes what's happening right now." The US House is debating the Hong Kong Bill and risks escalation of dispute with China. Among all this, NZD/USD extends its earlier losses while taking rounds to 0.6415 at the start of Thursday's Asian session. Following the United States' (US) Senate's passing… Top 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.