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6 Aug 2015
NZD/USD making a minor recovery ahead of Nonfarm Payrolls
FXStreet (Guatemala) - NZD/USD is currently trading at 0.6550 with a high of 0.6555 and a low of 0.6505.
NZD/USD has started to trade sideways as a further attempt at the upside of the channel between 0.6520/53 is resisted. The bird staged a recovery from the lows when Lockhart commented that September was a good time to hike. There had also been a disappointment in the NZ jobs data this week. 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%. The recovery comes on the back of the ADP employment change miss and Powell's less hawkish comments yesterday. However, the ISM Non Manufacturing number was the best since 2005 propping the greenback up again.
The markets will now belt up for the Nonfarm Payrolls tomorrow. The ADP jobs report came out below the psychological 200k mark at 185k vs 215k. This puts the Nonfarm Payrolls in the ball park of around 215k vs a consensus of 225k.
Register to the live coverage and trade the NonFarm Payrolls with Bednarik, Pinkert and Elam. We are Forex!
In the near term, we had confirmation of the downtrend on the back of 28th July shooting star. 0.6500 needs to break and close or recoveries need to find 0.6780.
NZD/USD has started to trade sideways as a further attempt at the upside of the channel between 0.6520/53 is resisted. The bird staged a recovery from the lows when Lockhart commented that September was a good time to hike. There had also been a disappointment in the NZ jobs data this week. 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%. The recovery comes on the back of the ADP employment change miss and Powell's less hawkish comments yesterday. However, the ISM Non Manufacturing number was the best since 2005 propping the greenback up again.
The markets will now belt up for the Nonfarm Payrolls tomorrow. The ADP jobs report came out below the psychological 200k mark at 185k vs 215k. This puts the Nonfarm Payrolls in the ball park of around 215k vs a consensus of 225k.
Register to the live coverage and trade the NonFarm Payrolls with Bednarik, Pinkert and Elam. We are Forex!
In the near term, we had confirmation of the downtrend on the back of 28th July shooting star. 0.6500 needs to break and close or recoveries need to find 0.6780.