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NZD/USD chart - Trading View
NZD/USD was trading 0.23% higher on the day at 0.7181 at around 05:00 GMT, consolidates previous session's slump.
New Zealand government on Thursday unveiled its annual budget, which indicated the economy is doing much better than forecast after the pandemic first hit.
Treasury reports indicate the nation’s economy is expected to grow by 2.9% this year and by 4.4% in 2023. That follows an overall economic contraction of 1.7% last year.
Following the release of the Federal Budget, S&P Global Ratings, lauding the nation’s economic recovery said that New Zealand is recovering faster than most advanced economies.
NZD/USD hovers around 55-EMA support. Weakness only on break below. Break above 21-EMA and above daily cloud will see upside continuation.
