5 Aug 2015
NZD/USD bears in control, shooting star confirmation
FXStreet (Guatemala) - NZD/USD is currently trading at 0.6519 with a high 0.6570 and a low of 0.6511.
A few dollars sellers came on the back of a non convincing Fed member, Powell. He has indicated that rates will rise soon, but only 'possibly' this year, while Lockhart had indicated yesterday that September was an appropriate time. Meanwhile, the ADP report had been eagerly awaited ahead of this week's nonfat, Payrolls data. The data arrived below the psychological 200k mark and came in as 185k vs 215k which puts the Nonfarm Payrolls in the ball park of around 215k vs a consensus of 225k. All in all, the number is not a huge blow for the dollar and markets now await Friday for the showdown.
Register to the live coverage and trade the NonFarm Payrolls with Bednarik, Pinkert and Elam. We are Forex!
Overnight, for the bird, 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%. all in all disappointing for the bird. Also, the GDT price arrived in at -9.3% yesterday.
NZD/USD bearish bias on 28 July shooting star
In the near term, we had confirmation of the downtrend on the back of 27th july shooting star and the pair has been better offered since, now testing the uptrends support looking for a confirmation of the downside with a break below 0.6498. Analysts at TD Securities are calling for 0.65 by year-end, and 0.59 by end-2016.
A few dollars sellers came on the back of a non convincing Fed member, Powell. He has indicated that rates will rise soon, but only 'possibly' this year, while Lockhart had indicated yesterday that September was an appropriate time. Meanwhile, the ADP report had been eagerly awaited ahead of this week's nonfat, Payrolls data. The data arrived below the psychological 200k mark and came in as 185k vs 215k which puts the Nonfarm Payrolls in the ball park of around 215k vs a consensus of 225k. All in all, the number is not a huge blow for the dollar and markets now await Friday for the showdown.
Register to the live coverage and trade the NonFarm Payrolls with Bednarik, Pinkert and Elam. We are Forex!
Overnight, for the bird, 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%. all in all disappointing for the bird. Also, the GDT price arrived in at -9.3% yesterday.
NZD/USD bearish bias on 28 July shooting star
In the near term, we had confirmation of the downtrend on the back of 27th july shooting star and the pair has been better offered since, now testing the uptrends support looking for a confirmation of the downside with a break below 0.6498. Analysts at TD Securities are calling for 0.65 by year-end, and 0.59 by end-2016.