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NZD/USD subdued awaiting Chinese data

FXStreet (Guatemala) - NZD/USD is currently trading at 0.6287 with a high of 0.6299 and a low of 0.6280

NZD/USD remains subdued in early Asia after yet another down day with the greenback relishing in light of Fed speakers signalling that a rate hike is coming soon and general market consensus that October is a better bet that September was. We have Lockhart speaking again this week later in Asia also.

Equities are struggling around the clock and so too are commodities. China weighs on the Global growth outlook and the commodity bloc is getting hit from all sides. We now await Chinese manufacturing data tonight and then NZ trade balance tomorrow. Durable goods orders from the US on Thursday as well. Housing data was strong today from the US today at 0.6% M/M in the price index vs 0.4% expected, supporting the greenback.

NZD/USD levels

NZD/USD bears have extended the downside and is trading below 200 SMA at 0.6336 with the 20 SMA extending down below the 50 SMA on the hourly time frames. MACD is less negative while the 0.6250 area and lows of earlier in the month are now coming into sight.

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