NZD/USD fluctuates as sentiment deteriores, despite RBNZ's rate hike spurring an initial surge NZDUSD Majors Macroeconomics
50 bps hike by the Reserve Bank of New Zealand . However, sentiment shifting sour spurred flows toward safe-haven assets. Therefore, the NZD/USD is trading at 0.6331, clinging to minimal gains of 0.30%. continued to show deterioration. The ISM Non-Manufacturing PMI, also known as Services, fell to 51.2, below estimates of 54.4, and trailed February’s 55.1 reading. The index fell due to weaker new orders growth and softer business activity.
The greenback is recovering some ground after falling to fresh two-month lows at 101.42, as shown by the US Dollar Index. At the time of typing, the DXY sits at 101.780, up 0.41%.
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