The NZDUSD pairs returned to sellers’ hands, as it declined to 0.6760 during the initial Asian session on Thursday.
The Kiwi climbed for the first time in a week the previous day after the US Treasury yields slipped from the multi-day top. However, challenges to the risk appetite and cautious sentiment ahead of today’s key events recalled the sellers.
US President Joe Biden’s press conference was the latest move to the market’s mood as he touched various risk-sensitive issues ranging from Russia to China, not forget Fed. US President Biden said, “China is not meeting its purchase commitments,” but also mentioned Chief Trade negotiator Katherine Tai’s efforts to placate Sino-American trade tussles.
President Biden also praised Fed Chair Jerome Powell’s push to recalibrate the support but also raised fears over faster rate hikes and balance sheet normalization, which in turn exerted additional downside pressure on the NZD/USD prices.
Looking forward, today the US will release its Unemployment claims and existing home sales.
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