7 Aug 2015
NZD/USD recovers after Nonfarm Payrolls supply
FXStreet (Guatemala) - NZD/USD is currently trading at 0.65575 with a high of 0.6601 and a low of 0.6529.
NZD/USD is robust with an ascending support line, despite the Nonfarm Payrolls falling above the psychological 200k mark at 215k vs 223k expected and keeping September the month that most economists are expecting a rate hike from the Fed. The unemployment rate has fallen and the working hours have increased along with a revision of June. We now look ahead for August Nonfarm Payrolls and hawks will be looking for an improvement in the unemployment rate dropping significantly and an up tick in wages.
The bird initially dropped on the releases, but made a comeback and exceeded the 0.6600 level when achieving the aforementioned highs as the greenback is sold off across the board in similar fashion. However, the downside remains compelling given the divergence between the RBNZ and Fed while we also reflect back on the recent jobs data win 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.
NZD/USD below shooting star and bearish gap
Recoveries need to find 0.6780 while the 28th of July shooting star remains a technical barrier as does 0.7080 to close the bearish gap of early June trade.
NZD/USD is robust with an ascending support line, despite the Nonfarm Payrolls falling above the psychological 200k mark at 215k vs 223k expected and keeping September the month that most economists are expecting a rate hike from the Fed. The unemployment rate has fallen and the working hours have increased along with a revision of June. We now look ahead for August Nonfarm Payrolls and hawks will be looking for an improvement in the unemployment rate dropping significantly and an up tick in wages.
The bird initially dropped on the releases, but made a comeback and exceeded the 0.6600 level when achieving the aforementioned highs as the greenback is sold off across the board in similar fashion. However, the downside remains compelling given the divergence between the RBNZ and Fed while we also reflect back on the recent jobs data win 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.
NZD/USD below shooting star and bearish gap
Recoveries need to find 0.6780 while the 28th of July shooting star remains a technical barrier as does 0.7080 to close the bearish gap of early June trade.