NZD/USD clings to gains near daily high, around 0.6300 mark ahead of US PCE data – by hareshmenghani NZDUSD Fed Bonds Inflation Currencies
e previous day. The pair sticks to its intraday gains through the mid-European session and is currently hovering near the daily top, around the 0.6300 mark.
That said, looming recession risks, amid worried about a surge in new COVID-19 cases and geopolitical risks, could keep a lid on any optimism in the markets. Apart from this, reviving bets that the Fed will continue to hike interest rates to tame inflation, should act as a tailwind for the USD and cap any meaningful upside for the NZD/USD pair, at least for the time being.
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