Snapshot: NZDUSD hovers around $0.594 as the RBNZ’s easing bias remains firmly in place, bolstered by recent rate cut and dovish signals. All eyes are on today’s 08:30 ET US CPI print, which could drive risk sentiment and influence the Kiwi.
- Key level to watch: $0.590, a break below which could accelerate losses.
- Risk to monitor: Any hawkish surprises in the US CPI data that might fuel a broad USD rally.
Bias into NY: Bearish on NZDUSD as RBNZ’s dovish stance contrasts potential for higher-than-expected US inflation, which could propel the USD. A breach of $0.590 would open the door to further downside.