NZDUSD Retraces Tuesday's rebound
Publish Date : 2019/09/18 - 11:55

The NZD/USD pair took advantage of the broad-based USD weakness and New Zealand's upbeat Global Dairy Trade (GDT) auction, which yielded a 2% increase in the GDT Price Index following the 0.4% decline in the previous auction, and snapped its five-day losing streak to end the day with a modest 20-pip gain.

With the trading action turning subdued ahead of the Federal Reserve's critical monetary policy announcements, the pair is having a difficult time preserving its bullish momentum. As of writing, it was down 0.35% on the day at 0.6335.

In the meantime, concerns over a military conflict in the Middle East following the attacks on Saudi oil facilities don't allow the market sentiment to recover and weigh on risk-sensitive currencies such as the NZD.

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