NZD/USD chart - Trading View
NZD/USD was trading 0.23% lower on the day at 0.7040 at around 11:45 GMT, after closing largely unchanged in the previous session.
Kiwi largely ignores upbeat ANZ Commodity Price Index data as markets remain wary ahead of FOMC minutes.
Data released earlier today showed New Zealand ANZ Commodity Price Index rose by 6.1% in March, beating market expectation of 2.7% by a wide margin.
Focus remains on FOMC minutes for any hints on the Fed’s take on the inflation outlook and the forward guidance.
Investors re-price Fed rate hike expectations, triggered by the recent series of encouraging US macro data.
Technical bias for the pair remains neutral. The pair is extending choppy trade along 110-EMA. Stiff resistance seen till 0.7080 mark. Decisive break above will buoy upside.
