NZD/USD fails to extend the latest recovery gains. US President Trump cites pandemic fears, asks help from China. New Zealand’s Q1 NZIER Business Confidence slumps to -70% versus -21% prior. Aussie data, RBA and coronavirus updates will offer fresh impulse. NZD/USD refrains from extending the previous day’s recovery gains while stepping back to 0.5930 during Tuesday’s Asian session. The kiwi pair earlier benefited from the pause in coronavirus (COVID-19) carnage in the global hot-spot. Though, the recent declines in New Zealand data and comments from US President Donald Trump seemed to have checked the market’s risk-on sentiment. New Zealand Institute of Economic Research’s (NZIER) Quarterly Survey of Business Opinion suggested a slump to -70% figure versus prior -21% during the first quarter (Q1) of 2020. However, the survey date preceded the announcement by the Government of the Alert Level 4 lockdown across the country and hence offered a little help for any major trade decision. US President Donald Trump, during his Coronavirus Task Force Briefings, cited fears of worsening situations in the US, mainly due to the virus outbreak, while also asked China for help. The US leader also disliked Indian decision on the exports of Hydroxychloroquine and suggested retaliation. With the recent challenges to the risk, US stock futures fail to follow Wall Street gains while stepping back to near 0.30% loss by the press time. The pair’s earlier recovery moves could be attributed to the early positive signs from Italy and Spain, coupled with upbeat comments from the New York Governor Andrew Cuomo. Given the release of domestic data, the kiwi traders may now follow Aussie trade numbers and RBA meeting updates for fresh impulse. Although the Reserve Bank of Australia (RBA) is widely expected to wait for fresh clues before extending its monetary policy combat with the virus, comments from the policy statement will be watched closely. Technical analysis NZD/USD remains capped by 21-day SMA, currently near 0.5945, a break of which could challenge 0.6000 round-figure ahead of targeting March 27 high surrounding 0.6070. 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 Trump: Could very well do a second round of direct payments to americans FX Street 2 years NZD/USD fails to extend the latest recovery gains. US President Trump cites pandemic fears, asks help from China. New Zealand’s Q1 NZIER Business Confidence slumps to -70% versus -21% prior. Aussie data, RBA and coronavirus updates will offer fresh impulse. NZD/USD refrains from extending the previous day’s recovery gains while stepping back to 0.5930 during Tuesday’s Asian session. The kiwi pair earlier benefited from the pause in coronavirus (COVID-19) carnage in the global hot-spot. Though, the recent declines in New Zealand data and comments from US President Donald Trump seemed to have checked the market’s risk-on sentiment. New Zealand Institute… 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.