NZD/USD Price Forecast: Holds steady near 0.5870 as bullish bias remains
NZD/USD Price Forecast: Bulls eye 0.6000 after SMA break
Summary:NZD/USD slipped to around 0.5860 after weaker-than-expected Chinese PMI data reinforced concerns over slowing demand. The US dollar rebounded as traders reassessed the Federal Reserve's policy outlook following this week's meeting.
NZD/USD Price Forecast: Previous highs around 0.5860 are holding bears for now
AUD/USD and NZD/USD ripped higher on Friday, fuelled by broad-based US dollar weakness following apparent coordinated intervention from Asian foreign exchange authorities, softer-than-expected US economic data and a surge in risk appetite after strong earnings from Microsoft and Amazon.
NZD/USD holds ahead of the Fed's decision
New Zealand Dollar struggles as firm US Dollar keeps NZD/USD pinned
On 21 July, Stats NZ reported an acceleration in inflation: the Consumer Price Index rose 1.5% in the second quarter, while the annual inflation rate climbed to 4.1%, its highest level in more than two years and slightly above analysts' consensus forecast of 4.0%. The increase was driven primarily by higher fuel prices amid tensions in the Middle East.
NZD/USD Price Forecast: Tests 0.5800 as bullish momentum fades
NZD/USD Price Forecast: Tests levels sub-0.5800 as bulls run out of steam
The kiwi has strengthened meaningfully against most peers this month. However, against the US dollar specifically, NZD/USD remains well below its 2026 highs, trading in the mid-0.58 area versus January's peak near 0.6075.
New Zealand consumer prices rose 1.5% in the June quarter, lifting the annual inflation rate to 4.1%. While that was above the 4.0% increase expected by economists, it fell just short of the Reserve Bank of New Zealand's 4.2% forecast released in May.