(IXIC) NASDAQ Caught In Tuesdays Volatile Trading, New Zealand Dollar (NZD)
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Summary:
- Volatile month for the US stock market.
- The easing of lockdowns will benefit not only China’s economy but economies that rely on China for trading, such as the NZD.
The NASDAQ is reflecting the volatility of the financial markets.
The NASDAQ is one of the indexes that has been caught in volatile trading on Tuesday. During trading on Tuesday, the NASDAQ turned positive, however, the positive turn was short-lived for the index. Despite managing to recover some of the losses seen this month, May has been a volatile month for the stock markets, concerns over decade-high inflation and fears that the hawkish Federal reserve’s moves to fight rising prices through raising interest rates may tip the US economy into a recession.
NASDAQ Price Chart
New Zealand Dollar
The NZD benefitted of Monday in the wake of China’s easing of COVID-19 lockdowns, strengthening against the Pound Sterling and other currencies. The easing of lockdowns will benefit not only China’s economy but economies that rely on China for trading, New Zealand's economy is one of those who will benefit.
The strengthening of China's Renminbi has also offered support to the NZD/USD currency pair, the US Dollar is struggling at the moment, and therefore, the recovery of the NZD has been noticeable.
Sources: finance.yahoo.com, poundsterlinglive.com
