November 18, 2020 6:45 am est
by Richard Cason,
Fx Currency Analyst NewsmovesmarketsForex
NZDUSD Ink’s Fresh new historically yearly highs on November 18, 2020. eyeing 0.06961 level. The NZDUSD surpassed yearly highs of 06925 set back in May of 2019. The Kiwi had some fairly decent economic data disseminating out of Wellington this evening and pick up steam against it’s U.S. dollar rival. The pair was range bound and retesting the 06917 level for last previous day’s and finally managed to breakout of the level in the early US trading session.
The RBNZ held the OCR the same at .25% on last Tuesday, Nov 11, 2020 and continued with quantitative easing, slowly weathering the treacherous economic pitfalls of the global COVID-19 pandemic.
 |
The New Zealand dollar has continued to show signs of strength against Greenback. The Kiwi has been gaining ground over the last couple of weeks against the US dollar. The US Dollar index (DXY) is currently trading at 92.29 significant down on the day -0.13% .12 . The 10 year treasury yields presently up at 0.865% .0003%.
Treasury yield can play a significant role in the over all condition of the U.S. economy. It is important to note that the treasury yields influence the rates individuals pay for U.S. auto loans, business equipment loans and real loan estate transaction. It can also be a key indicator on the over all directional outlook of the United States Economy.
This Morning the NZD dollar Index is currently trading at 73.06 up +0.37% 6:50 a.m. eastern standard time. The US dollar Index futures is currently trading at 92.273 DOWN (-.14% ) Dec 20 (DXZO), 2020 6:51 a.m. eastern standard time.
