Further good news for euro in early trading

The NZD/USD pair gained traction during the Asian trading hours on Thursday and rose above the 0.63 handle. However, for the third straight day this week, the pair struggled to break above the interim resistance that seems to have formed at 0.6330. As of writing, the pair was up 0.5% on the day at 0.6324.Earlier in the day, the New Zealand Monthly Inflation Gauge report, released by the ANZ Bank, ticked up to 3% in September from 2.9% in August and provided support to the NZD. More importantly, heightened hopes of the United States (US) and China reaching at least a partial trade deal allowed antipodean currencies to outperform its rivals. On the other hand, the recovering market sentiment also weighed on the Greenback and allowed the pair to preserve its bullish momentum.The US Bureau of Labor Statistics today reported that inflation in September, as measured by the core Consumer Price Index (CPI), stayed unchanged at 2.4% as expected. Although the US Dollar Index rebounded modestly from daily lows after the data, it was still down 0.33% on the day at 98.78 at the time of press.The US economic docket won’t be featuring any other significant macroeconomic data releases in the remainder of the day and participants will be paying close attention to headlines coming out of the trade negotiations in Washington.Forex Crunch is a site all about the foreign exchange market, which consists of news, opinions, daily and weekly forex analysis, technical analysis, tutorials, basics of the forex market, forex software posts, insights about the forex industry and whatever is related to Forex.Foreign exchange (Forex) trading carries a high level of risk and may not be suitable for all investors. The risk grows as the leverage is higher. Investment objectives, risk appetite and the trader’s level of experience should be carefully weighed before entering the Forex market. There is always a possibility of losing some or all of your initial investment / deposit, so you should not invest money which you cannot afford to lose. The high risk that is involved with currency trading must be known to you. Please ask for advice from an independent financial advisor before entering this market. Any comments made on Forex Crunch or on other sites that have received permission to republish the content originating on Forex Crunch reflect the opinions of the individual authors and do not necessarily represent the opinions of any of Forex Crunch’s authorized authors. Forex Crunch has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: Omissions and errors may occur. Any news, analysis, opinion, price quote or any other information contained on Forex Crunch and permitted re-published content should be taken as general market commentary. This is by no means investment advice. Forex Crunch will not accept liability for any damage, loss, including without limitation to, any profit or loss, which may either arise directly or indirectly from use of such information. .