5 Aug 2015
NZD/USD soft in Asia on poor Jobs data
FXStreet (Guatemala) - NZD/USD> is currently trading at 0.6532 with a high 0.6550 and a low of 0.6524 so far in early Asia on the back of key jobs data for NZ.
NZD/USD has dropped to a mild degree by 20pips on the back of the jobs data for NZ. The unemployment change for Q2 that came in line while the participation came in lower than expected at 69.3% vs 69.6% consensus. The employment change missed also by 0.2% at 0.3% vs 0.5%. So a continuation of the bearish vibes for the bird on this release.
Overnight, Fed's Lockhart drove the greenback up when switching from his usual dovish stance to say that September could be an appropriate time for a hike. Also, the GDT price arrived in at -9.3% earlier in the day overnight. The main event now for the pair will come in the form of the Nonfarm Payrolls numbers.
Register to the live coverage and trade the NonFarm Payrolls with Bednarik, Pinkert and Elam. We are Forex!
NZD/USD bearish bias
There is a bearish set up in the pair and analysts at TD Securities are calling for 0.65 by year-end, and 0.59 by end-2016.
On the sorter time frames, 0.6720 is an upside level that if broken with convincing closes, a correction could be under way while otherwise 0.6600 comes a psychological resistance ahead of 0.6680 To the downside, 0.6550 (July 22, 24 low) has been penetrated and we are now headed for 0.6497/0.6505.
NZD/USD has dropped to a mild degree by 20pips on the back of the jobs data for NZ. The unemployment change for Q2 that came in line while the participation came in lower than expected at 69.3% vs 69.6% consensus. The employment change missed also by 0.2% at 0.3% vs 0.5%. So a continuation of the bearish vibes for the bird on this release.
Overnight, Fed's Lockhart drove the greenback up when switching from his usual dovish stance to say that September could be an appropriate time for a hike. Also, the GDT price arrived in at -9.3% earlier in the day overnight. The main event now for the pair will come in the form of the Nonfarm Payrolls numbers.
Register to the live coverage and trade the NonFarm Payrolls with Bednarik, Pinkert and Elam. We are Forex!
NZD/USD bearish bias
There is a bearish set up in the pair and analysts at TD Securities are calling for 0.65 by year-end, and 0.59 by end-2016.
On the sorter time frames, 0.6720 is an upside level that if broken with convincing closes, a correction could be under way while otherwise 0.6600 comes a psychological resistance ahead of 0.6680 To the downside, 0.6550 (July 22, 24 low) has been penetrated and we are now headed for 0.6497/0.6505.