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Forex News

New Zealand confirms 8 new cases of COVID-19, all related to overseas travel

New Zealand confirms 8 new cases of COVID-19, all related to overseas travel.

Confirmed COVID-19 cases reached 97,996 outside China with 4,195 deaths as of 5 pm Tuesday (Beijing time). Eight countries reported their first case in the past 24 hours – WHO as reported by the Global Times. 

NZD/USD implications

The bird is back below 0.60 again, under pressure from USD strength which has rallied across the board, scoring territory back on the 99 handle in the DXY and the bird is suffering due to a fall in GDT auction prices as well. “We are now at a new low for the cycle, and with large-scale QE inevitable in coming weeks and the US gearing up for more fiscal stimulus, we expect the Kiwi to be under gravitational pull,” analysts at ANZ Bank explained. 

 

 

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