- Investors kept their eyes on government bond yields and stocks for direction.
- Reserve Bank of Australia Governor Michele Bullock will hit the wires early on Friday.
- NZD/USD could accelerate its slump on a break through 0.6078.
The NZD/USD pair trades just below the 0.6100 mark ahead of the Asian opening, ending Thursday with modest losses. The pair hit 0.6123 at the beginning of the day, but quickly turned south as the US Dollar found legs on strong American data and the soft tone of stock markets. It is worth adding, however, that after spending most of the day in the red, Wall Street has managed to trim early losses, with the Dow Jones Industrial Average and the Nasdaq Composite posting modest gains and the S&P500 poised to end the day little changed just below the 5,000 mark.
Focus on equities and yields
The focus was not only on equities. Investors were also paying attention to US Treasury yields, up on the day on the back of signs the Federal Reserve (Fed) has no reason to rush into cutting interest rates. Multiple policymakers hit the wires these days and backed Chairman Jerome Powell’s concepts, expressed in the aftermath of the latest monetary policy. The main idea is that interest rates will remain at current levels until officials are more certain inflation will stabilize around their 2% goal.
In the meantime, solid US employment-related data took out pressure from policymakers. The country reported that weekly unemployment claims rose to 218K in the week finished February 2, beating the 220K expected.
The macroeconomic calendar will remain scarce in Asia on Friday, with only a speech from the Reserve Bank of Australia (RBA) Governor Michele Bullock in the docket.
NZD/USD Technical Outlook
The NZD/USD pair held within familiar levels, maintaining a technically neutral stance. The daily chart shows sellers are aligned around a bearish 20 Simple Moving Average (SMA), while intraday buying interest surged around a flat 200 SMA, the latter at around 0.6080.
The same chart shows technical indicators have lost momentum within negative levels, lacking enough directional strength to anticipate a new leg south.
The case for another leg lower should be stronger on a break through the daily low, at 0.6078. Speculative interest will then look to test buyers´ determination at 0.6028, the February monthly low.
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

Gold gives away some gains, slips back to $2,980
Gold retraced from its earlier all-time highs above the key $3,000 mark on Friday, finding a footing around $2,980 per troy ounce. Profit-taking, rising US yields, and a shift to a risk-on environment seem to be putting the brakes on further gains for the metal.

EUR/USD remains firm and near the 1.0900 barrier
EUR/USD is finding its footing and trading comfortably in positive territory as the week wraps up, shaking off two consecutive daily pullbacks and setting its sights back on the pivotal 1.0900 mark—and beyond.

GBP/USD remains depressed, treads water in the low-1.2900s
GBP/USD is holding steady in consolidation territory after Friday’s opening bell on Wall Street, hovering in the low-1.2900 range. This resilience comes despite disappointing UK data and persistent selling pressure on the USD.

Crypto Today: BNB, OKB, BGB tokens rally as BTC, Shiba Inu and Chainlink lead market rebound
Cryptocurrencies sector rose by 0.13% in early European trading on Friday, adding $352 million in aggregate valuation. With BNB, OKB and BGB attracting demand amid intense market volatility, the exchange-based native tokens sector added $1.9 billion.

Week ahead – Central banks in focus amid trade war turmoil
Fed decides on policy amid recession fears. Yen traders lock gaze on BoJ for hike signals. SNB seen cutting interest rates by another 25bps. BoE to stand pat after February’s dovish cut.

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.