4 May 2015
NZD/USD faces a big week ahead
FXStreet (Guatemala) - NZD/USD is currently trading at 0.7523 with a high of 0.7540 and a low of 0.7507.
NZD/USD faces a key week this week. We have both the US and NZ docket full of data for the pair. Besides Fed speak that commences with Tarullo, then Evans and Williams this week and various other second tier releases form the US, we will revisit the NZ jobs market with the unemployment rate that is expected to drop from 5.7% to 5.5% with wage growth at a stand still at 0.5% where the RBNZ will be focussing. On Friday, the US Nonfarm payrolls will be released and this is likely to be the showdown for the week and NZD/USD.
Technically, the pair is in neutral territory but comes with a bearish bias medium term. Analysts at Westpac Banking corporation noted that the multi-month NZD/USD rally has stalled and the downside risks are growing. "We thus maintain our multi-month target of 0.7100."
NZD/USD faces a key week this week. We have both the US and NZ docket full of data for the pair. Besides Fed speak that commences with Tarullo, then Evans and Williams this week and various other second tier releases form the US, we will revisit the NZ jobs market with the unemployment rate that is expected to drop from 5.7% to 5.5% with wage growth at a stand still at 0.5% where the RBNZ will be focussing. On Friday, the US Nonfarm payrolls will be released and this is likely to be the showdown for the week and NZD/USD.
Technically, the pair is in neutral territory but comes with a bearish bias medium term. Analysts at Westpac Banking corporation noted that the multi-month NZD/USD rally has stalled and the downside risks are growing. "We thus maintain our multi-month target of 0.7100."