NZD/USD drops to near 0.6300 as US Dollar attempts recovery, China’s official PMI in focus

NZD/USD has slipped sharply below 0.6320 as the US Dollar Index has shown a recovery move.
Market mood is turning cautious as the Covid-19 situation in China is getting vulnerable.
Going forward, investors will keep an eye on China’s official PMI data.

The NZD/USD pair has dropped to near intraday low at 0.6316 in the Asian session as the US Dollar Index (DXY) has attempted a recovery after dropping to near 103.50. The New Zealand Dollar has witnessed selling pressure as COVID-19 situation in China is getting more vulnerable.

The headline of rising deaths from Covid-19 in China has spooked the market mood again. According to UK-based health data firm Airfinity “Around 9,000 people in China are probably dying each day from COVID-19. Also, cumulative deaths in China since Dec. 1 likely reached 100,000 with infections totaling 18.6 million.

S&P500 futures are holding the…

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