NZD / USD Reaches Levels Near 0.6570

NZD / USD Reaches Levels Near 0.6570

• NZD / USD rose on Tuesday after the 0.6500 test. • The US Dollar Index fell below the 96.00 level due to positive market sentiment. • Industrial Production data will be included in the US economic report. The NZD / USD pair dropped to 0.6500 on Tuesday, but closed the day horizontally at 0.6540. With risky streams beginning to dominate the financial markets on Wednesday, it rose to the highest level of 0.6572 daily. NZD / USD traded a few pips below this level and increased by 0.47% on a daily basis.

USD Dollar Optimist

If macroeconomic data are not released on Wednesday, risk perception will continue to be the main driver of currency performance. Earlier in the day, reports revealed that Moderna's coronavirus vaccine candidate showed promising results. In addition, ITV's political editor, Robert Peston, said Oxford's COVID-19 vaccine "created the antibody and T cell (killer cell) response that researchers hope to see". Supported by these developments, risk-sensitive NZD is gathering strength against its competitors. On the other hand, the US dollar continues to lose interest as a safe haven, with the US Dollar Index falling to the lowest of five weeks below 96.00. In the second half of the day, the US economic report will include Industrial Production and NY Empire State Production data. More importantly, investors will closely monitor Wall Street's performance. Currently, S&P 500 futures have increased by 1.1%.