The NZD/USD pair rose to a fresh all-time high of 0.7234 after China’s National Bureau of Statistics (NBS) released the official activity data for December, during early Thursday. Other than the data from one of the biggest customers, the kiwi pair also cheers the dollars weakness and careful optimism of the markets.
The China’s NBS Manufacturing PMI almost matched 52.0 forecast with 51.9 figures, versus 52.4 prior, whereas Non-Manufacturing PMI rose past-52.4 expected and 56.4 prior to 55.7. Following the data, traders had ingnored the mild weakness in the headline Manufacturing PMI while cheering the upbeat Non-Manufacturing data.
Other than the statistics, the market’s optimism to tackle the deadlock over the $2000 paycheck in the US joins the COVID-19 vaccine optimism to keep the risks positive.
The S&P 500 Futures fluctuate near the record high flashed earlier in the week while printing 0.10% intraday gains to 3,728. Though, New Zealand’s NZX is consolidating recent gains with 0.80% losses on a day by press time.
Adding to the negative environment for the current mood could be the covid-19 developments in the US and the UK as well as America’s sending of two guided missiles and bombardiers to the Middle East and Taiwan Strait.
Looking forward, the US Weekly Initial Jobless Claims, is expected at 833K versus 803K previously reecorded, for the week ended on December 25 will decorate the economic calendar ahead of closing the year 2020.
Happy New Year!
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