Crude Oil Futures: Rally has extra wings

NZD/USD refreshes intraday low, stays pressured for third day after data from Australia and China.
Aussie trade figures came in weaker for May, Retail Sales matches initial forecasts.
China Caixin Services PMI dropped to 55.1, Composite PMI eased to 53.8, RBNZ officials remain cautiously optimistic.
US data, risk headlines may entertain traders amid a possible sluggish day.
NZD/USD takes offers around 0.7225, down 0.20% intraday, following the downside signals from macros and US dollar rebound during the first Thursday. In doing therefore the kiwi pair drops for the fourth consecutive day whilst markets struggle for direction.

The latest fall within the quote might be traced to Australia’s downbeat balance of trade and Retail Sales for April, to not forget China’s weaker-than-previous figures of Caixin Services PMI and Composite PMI numbers for May.

Earlier within the day, the New Zealand government released a 10-month budget marking a lesser than expected deficit of three .57 billion New Zealand dollars (NZD). Though, the news couldn’t recall the NZD/USD buyers as traders struggle for clear direction before Friday’s US Nonfarm Payrolls (NFP), to not forget today’s US ADP Employment Change and ISM Services PMI.


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