NZD/USD is fluctuating in a tight range on Thursday. US Dollar Index stages a modest recovery toward 93.00. Eyes on weekly Initial Jobless Claims data from the US. The NZD/USD pair is struggling to make a decisive move in either direction amid a lack of significant fundamental drivers on Thursday. As of writing, the pair was down 0.08% on the day at 0.6640. Earlier in the day, the data published by the Reserve Bank of New Zealand (RBNZ) showed that Inflation Expectation for the third quarter rose modestly to 1.43% from 1.24% in the second quarter. However, this reading failed to provide a boost to the NZD. On the other hand, the US Dollar Index (DXY), which dropped to its lowest level since May 2018 at 92.52 earlier in the day, is staging a rebound ahead of the American session, forcing NZD/USD to stay in the negative territory. At the moment, the DXY is up 0.1% on the day at 92.90. The US Department of Labor’s weekly Initial Jobless Claims data will be featured in the US economic docket on Thursday. NZD/USD outlook Westpac analysts think that NZD/USD remains “slightly biased to the upside” after breaking above 0.6600 and see the pair targeting 0.6750 in the months ahead. “The fundamental backdrop remains supportive: trend decline in the USD, global demand for risky assets, unprecedented fiscal and central bank stimulus, NZ economic (and COVID management) outperformance, and China’s recovery boosting demand for NZ commodities,” analysts further explained. 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 EUR/JPY Price Analysis: Further downside could see 124.00 re-tested FX Street 2 years NZD/USD is fluctuating in a tight range on Thursday. US Dollar Index stages a modest recovery toward 93.00. Eyes on weekly Initial Jobless Claims data from the US. The NZD/USD pair is struggling to make a decisive move in either direction amid a lack of significant fundamental drivers on Thursday. As of writing, the pair was down 0.08% on the day at 0.6640. Earlier in the day, the data published by the Reserve Bank of New Zealand (RBNZ) showed that Inflation Expectation for the third quarter rose modestly to 1.43% from 1.24% in the second quarter. However, this reading failed… 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.
