NZDUSD Technical Analysis – The price action remains confined in a range ...Middle East

Fundamental OverviewThe USD got a boost from the strong US Consumer Confidence data which triggered an aggressive rise in long term Treasury yields. The report however just showed that the labour market remains resilient which is good news for growth and not necessarily bad news for inflation. The greenback benefited also from the risk-off sentiment which looks increasingly likely that it was caused more by the month-end flows rather than a fundamental driver. The NZD, on the other hand, remains supported from the hawkish RBNZ decision where the central bank pushed further out the timing for a rate cut and even added that they considered a rate hike. Moreover, the risk-on sentiment is supp

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