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EUR/USD Forecast: Bears maintain the pressure, lower lows at sight
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EUR/USD Meeting Sellers On Spikes, Lower Lows At Sight
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May 20, 2021 04:16 GMTFXStreet News
NZD/USD pokes intraday high following the upbeat NZ budget speech.
New Zealand budget forecasts improvement in economics, fiscal conditions going forward.
Market sentiment dwindles as tapering, trade fears battle vaccine hopes, stimulus expectations.
Risk headlines remain the key, US data can also provide fresh impulse.
NZD/USD picks up bids to 0.7170, up 0.05%, after New Zealand Finance Minister Grant Robertson unveiled the annual 2021 budget early Wednesday. In doing so, the quote struggles to overcome the previous day’s losses but risk aversion mood tests the pair’s immediate upside.
New Zealand (NZ) Finance Minister Robertson said, “Long-term effects of pandemic not as severe as previously thought” while releasing the annual budget for 2021. The key financial statement upwardly revised the GDP forecast from its Half Year Economic Forecast Update (HYEFU) while also expecting a gradual reduction in the fiscal deficit.
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