10 Aug 2015
NZD/USD: support keeping bulls in the picture
FXStreet (Guatemala) - NZD/USD is currently trading at 0.6593 with a high of 0.6627 and a low of 0.6555.
NZD/USD was subdued in Asian trade and offered in European markets following last week's performance and data and has caught some demand again in the US session up to test the 0.66 handle again.
The New Zealand jobs data was disappointing last week with the unemployment change for Q2 that came in line while the participation came in lower than expected at 69.3% vs 69.6% consensus. At the end of the week, NZD/USD was offered on the Nonfarm Payrolls but then finding its way back on to the bid by the close to finish flat on the week. From the calendar, we look for card sales in NZ and from the US Retails Sales, Producer Price's and in Michigan Sentiment stand out before next week's CPI's and Fed minutes to really drive the price direction in the greenback for August. We await Lockhart speaking today to the Atlanta Press Club where references to a rate hike as early as September may be the theme.
NZD/USD still below shooting star and bearish gap
Recoveries still need to find 0.6780 with 0.6720/38 coming as first major resistance while the 28th of July shooting star highs remain a technical barrier. A score to 0.7080 will close the bearish gap of early June trade.
NZD/USD was subdued in Asian trade and offered in European markets following last week's performance and data and has caught some demand again in the US session up to test the 0.66 handle again.
The New Zealand jobs data was disappointing last week with the unemployment change for Q2 that came in line while the participation came in lower than expected at 69.3% vs 69.6% consensus. At the end of the week, NZD/USD was offered on the Nonfarm Payrolls but then finding its way back on to the bid by the close to finish flat on the week. From the calendar, we look for card sales in NZ and from the US Retails Sales, Producer Price's and in Michigan Sentiment stand out before next week's CPI's and Fed minutes to really drive the price direction in the greenback for August. We await Lockhart speaking today to the Atlanta Press Club where references to a rate hike as early as September may be the theme.
NZD/USD still below shooting star and bearish gap
Recoveries still need to find 0.6780 with 0.6720/38 coming as first major resistance while the 28th of July shooting star highs remain a technical barrier. A score to 0.7080 will close the bearish gap of early June trade.