- NZD/USD is rising for the third straight day on Wednesday.
- Greenback struggles to find demand as US T-bond yields drop.
- Eyes on mid-tier macroeconomic data releases from the US.
The NZD/USD pair posted daily gains on Wednesday supported by the broad-based USD strength and continued to push higher on Wednesday. After touching a weekly high of 0.7241, however, the pair seems to have gone into a consolidation phase and was last seen gaining 0.48% at 0.7229.
DXY remains on the back foot
Following the 10-year US Treasury note auction on Wednesday, the US T-bond yields fell sharply and forced the USD to start weakening against its rivals. At the moment, the US Dollar Index (DXY) is losing 0.3% at 91.55 and the yield on the benchmark 10-year T-bond yield is losing 1.7%.
Additionally, the upbeat market mood is not allowing the USD to find demand as a safe-haven and allows NZD/USD to remain in the positive territory. Currently, the S&P 500 Futures are up nearly 0.8%.
Later in the session, the US Department of Labor will release its weekly Initial Jobless Claims data. Moreover, the US Bureau of Labor Statistics' JOLTS Job Openings report will be looked upon for fresh impetus.
In the early trading hours of the Asian session on Friday, the Business NZ PMI data from New Zealand for February will be watched closely by market participants. A reading above 50 could help the kiwi preserve its strength with the market consensus pointing to a decline to 49.8 from 57.5 in January.
Technical levels to watch for
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
AUD/USD holds gains above 0.6400 as China weighs tariff exemptions
AUD/USD holds gains above the 0.6400 mark early Friday and remains well within striking distance of the YTD peak touched earlier this week. A positive risk tone and a report that China is mulling tariffs exemptions on some US imports act as a tailwind for the Aussie but fresh US Dollar strength could check the pair's upside.
USD/JPY looks to 144.00 as US Dollar rallies on US-China trade optimism
USD/JPY extends the advance toward 144.00 early Friday, with the latest leg up linked to intense US Dollar demand following a Bloomberg report, citing that China is considering suspending its 125% tariff on some US imports. The pair shrugs off hot Tokyo CPI inflation data.
Gold eyes US-China trade talks and third straight weekly gain
Gold price holds Thursday’s rebound, defending weekly gains near $3,350 early Friday. Gold buyers catch a breather, taking stock of the trade developments globally after US President Donald Trump’s tariffs whiplash.
Bitcoin, Ethereum and Ripple to consolidate strong weekly gains
Bitcoin price stabilizes around $93,000 on Friday, following a 9.5% rally so far this week. Ethereum and Ripple followed BTC’s move and rallied by 10% and 5%, respectively. However, these coins exhibit signs of bullish exhaustion on their momentum indicators.
Five fundamentals for the week: Traders confront the trade war, important surveys, key Fed speech Premium
Will the US strike a trade deal with Japan? That would be positive progress. However, recent developments are not that positive, and there's only one certainty: headlines will dominate markets. Fresh US economic data is also of interest.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.