On Tuesday, the NZD/USD currency pair lost its positive momentum and trades at 0.6234. The pair stayed close to Friday’s monthly high, but a two-day rise ended as traders waited for essential data or events.

The Federal Open Market Committee (FOMC) meeting started the week with a light schedule and mixed economic concerns.

The Chicago Fed National Activity Index was -0.19 in June and -0.03 in May. The Dallas Fed Manufacturing Index for July fell to -22.6, which was lower than the expected -12.5 and the previous -17.7.

Ben Harris, Assistant Secretary for Economic Policy, and Neil Mehrotra, Deputy Assistant Secretary for Macroeconomics, gave people hope for a more robust US GDP. Gross domestic income (GDI), which includes wages, business earnings, rent, and interest, went up 1.8% yearly in the first quarter, but GDP went down.

Before 98.7, the US CB Consumer Confidence for July is the most critical number for pair traders to keep an eye on for short-term changes. Conversations before the Fed will watch signs of growth. The June US New Home Sales, the July Richmond Fed Manufacturing Index, and the May House Price Index are essential information.

On Tuesday, Reserve Bank of New Zealand (RBNZ) Governor Adrian Orr said that the bank is looking at how well its monetary policy is working. The central bank will keep an eye on inflation and job growth to decide on monetary policy.

Conclusion

Short-term traders may be interested in the NZD/USD pair.