The NZD/USD pair is struggling to establish its footing at the start of the week.
In a quiet day, the US Dollar Index remains unchanged over 92.00.
Due to the Independence Day holiday, financial markets in the United States will be closed.
Despite a strong comeback on Friday, the NZD/USD pair ended the previous week in negative territory and appears to be struggling to extend its gains on Monday. At the time of writing, the pair was trading at 0.7020, down 0.1 percent on the day.
The USD’s valuation continues to influence NZD/USD fluctuations in the absence of high-tier data releases and fundamental drivers. The US Dollar Index (DXY) fell 0.3 percent as a result of the mixed June jobs report released on Friday. The DXY is trading sideways above 92.20 on Monday, preventing the NZD/USD from heading north.
Due to the Independence Day holiday, financial markets in the United States will be closed, and market activity will likely be muted.
New Zealand’s NZIER Business Confidence Index data for the second quarter, on the other hand, will be announced on Tuesday. Earlier in the day, the ANZ Commodity Price Index came in at 0.8 percent in June, versus experts’ expectations of 1.2 percent, but market participants generally ignored this report.
Meanwhile, the Reserve Bank of Australia (RBA) will announce its policy decisions, and a major reaction in the positively correlated AUD/USD pair could have an impact on the NZD/USD./n
