NZD/USD recovers into 0.5850 as risk aversion recedes, for now

The NZD/USD is catching some bids into 0.5850 as broad market risk appetite stabilizes heading into a bumper week of US data readings. The economic ca

The NZD/USD is getting some much-needed lift heading into the Tuesday market session. Thin New Zealand showing on the economic calendar to leave the Kiwi exposed to USD flows. Later Tuesday sees another round of US PMI data for October. lendar is notably absent any meaningful Kiwi-based figures for NZD traders to chew on, leaving the NZD/USD to get pushed around by market reactions to US growth and inflation figures.

Accelerations in underlying inflation figures for the US bode poorly for broad market sentiment as investors are hoping for a walk back on interest rate expectations from the Fed, but sticky inflation will prove a difficult hurdle for the US central bank to overcome before they can start bringing rates down. The Fed's current dot plot doesn't see any rate cuts until the latter half of 2024 as it currently stands.

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