Post #15233

Kiwi Cracks Under Pressure NZD/USD continues its steady slide, breaking below key support near 0.5700 — Sellers remain firmly in control. The Kiwi is under heavy pressure as markets brace for another 25 bps cut from the Reserve Bank of New Zealand later this month — following last month’s aggressive 50 bps reduction. Economic momentum remains weak, inflation is cooling, and unemployment is expected to climb to a nine-year high in the upcoming labor report. Meanwhile, soft manufacturing data out of China — New Zealand’s largest trading partner — added further weight to the currency, while a stronger U.S. dollar amplified the move as Fed officials pushed back against expectations for more rate cuts. If upcoming jobs data confirms further weakness, NZD/USD could easily extend toward 0.5550 or even lower as rate-cut bets pile on. On the flip side, any surprise improvement in Chinese data or a softer USD could trigger a corrective bounce — but for now, the path of least resistance remains down.