Quantcast

NZD/USD is trading higher on weak US data

FXstreet.com (Athens) – Despite the fact that there was a heavy liquidation of ‘Kiwi’ across the board, the NZD/USD was driven upwards on dismal US durable goods orders.

Taper speculation has become US data-centric.

The ‘kiwi’ gained solid ground against the ‘greenback’, immediately after the release of US durable goods orders data. Durable goods orders, a proxy for larger scale consumption (appliances, automobiles, etc.) fell by nearly twice as anticipated, a sign that the uptick in interest rates is hurting an economy struggling to gain traction in positive growth territory. Despite NZD was the worst performer against the dollar the …read more