NZD/USD decreases as manufacturing data disappoints and Fed rate cut is anticipated

From Investing.com: 2024-09-13 08:58:00

The New Zealand dollar is slightly lower on Friday after a previous jump, trading at 0.6163, down 0.27%. The US PPI softer than expected further complicates the Fed’s upcoming rate cut decision. The Fed may opt for a modest 25 bps cut, but a 50 bps cut is gaining traction due to economic weakness. US PMI remains in contraction, with manufacturing struggling for 18 months straight. NZD/USD faces support at 0.6164 and resistance at 0.6205. The market awaits the Fed’s decision with uncertainty.

[Original Post](https://www.marketpulse.com/news-events/central-banks/nz-dollar-dips-on-soft-nz-manufacturing-data/kfisher?utm_source=feedly-feed&utm_medium=rss&utm_campaign=feed)



Read more at Investing.com: NZD/USD Retreats as NZ Manufacturing PMI Disappoints, Fed Rate Cut Looms