4 Aug 2015
NZD/USD: pressured on a key data week ahead
FXStreet (Guatemala) - NZD/USD is currently trading at 0.6565 with a high of 0.6570 and a low of 0.6549.
NZD/USD followed suit of the rest of the commodity currencies overnight and has started the week in the European and US markets on the wrong foot, trading back below the 0.66 handle and giving back ground made at the end of last week's trade when the greenback was punished for the wages disappointment on US closing session, printing the worst numbers since recorsd began. This ahead of the Nonfarm Payrolls numbers this week rattled investors who were quick to exit the US dollar. This sets a scene for the week and data outcomes ahead of further and subsequent FOMC decision making.
Register to the live coverage and trade the NonFarm Payrolls with Bednarik, Pinkert and Elam. We are Forex!
Oil was the mover in the commodities sector this time around, falling below $50 for the first time since the end of Jan this yea. Gold, alluminimum and copper were all lower, against a back-drop of a poor Chinese PMI's and negative sentiment. This is something that the RBA will be meeting over tonight and markets sit tight ahead of this key event. Domestically for the bird, the NZ economy we await the GDT Price Index tomorrow, labour costs and the unemployment data.
NZD/USD levels to monitor
NZD/USD bulls may be targeting 0.6720 and closes there may relieve some of the pressures in the broader downtrend while 0.6600 and 0.6680 would come as first major resistances. To the downside, 0.6550 (July 22, 24 low) comes as a support before this year's lows again.
NZD/USD followed suit of the rest of the commodity currencies overnight and has started the week in the European and US markets on the wrong foot, trading back below the 0.66 handle and giving back ground made at the end of last week's trade when the greenback was punished for the wages disappointment on US closing session, printing the worst numbers since recorsd began. This ahead of the Nonfarm Payrolls numbers this week rattled investors who were quick to exit the US dollar. This sets a scene for the week and data outcomes ahead of further and subsequent FOMC decision making.
Register to the live coverage and trade the NonFarm Payrolls with Bednarik, Pinkert and Elam. We are Forex!
Oil was the mover in the commodities sector this time around, falling below $50 for the first time since the end of Jan this yea. Gold, alluminimum and copper were all lower, against a back-drop of a poor Chinese PMI's and negative sentiment. This is something that the RBA will be meeting over tonight and markets sit tight ahead of this key event. Domestically for the bird, the NZ economy we await the GDT Price Index tomorrow, labour costs and the unemployment data.
NZD/USD levels to monitor
NZD/USD bulls may be targeting 0.6720 and closes there may relieve some of the pressures in the broader downtrend while 0.6600 and 0.6680 would come as first major resistances. To the downside, 0.6550 (July 22, 24 low) comes as a support before this year's lows again.