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NZD/USD Pauses Near 0.5850 as China Proxy Strength Meets Hawkish Fed Sentiment

Guavy AI Editorial Team
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USD NZD
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The NZD/USD pair has posted mild gains near 0.5850 due to China's services activity expanding at a faster pace in August, but bearish momentum signals cap upside potential.

The Services Purchasing Managers' Index (PMI) rose to 51.4 from 50.4 in July, exceeding market consensus of 50.6 and providing support for the China-proxy Kiwi.

However, Federal Reserve Chair Kevin Warsh's hawkish comments at the Jackson Hole symposium have bolstered expectations of a rate hike in September, potentially acting as a headwind for the pair.

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