4 Global Market Updates- 1 September, 2022

 

In this article, we have covered the highlights of global market news about the NZD/USD, XAU/USD, USD/JPY and GBP/USD.
NZD/USD recovers from a multi-week low and reclaims 0.6100; upward potential seems restricted.

The NZD/USD pair halts its intraday decline at the 0.6075 area and rises a few points from the Thursday when it reached its lowest point since July 14. Early in the European day, spot prices rise again above the 0.6100 level, but further major gains remain difficult.

The US dollar is unable to gather any real momentum and continues its retracing price movement slightly below this week’s 20-year top. In addition, the NZD/USD pair receives some support from the 1-hour chart’s slightly oversold RSI, which aids in the tiny rebound. Even yet, the USD continues to benefit from hawkish Fed predictions. This should, at least temporarily, prevent the major from seeing any significant rebound because to the general risk-off attitude.

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