6 Aug 2015
NZD/USD: bulls saving face on daily lows at 0.6491
FXStreet (Guatemala) - NZD/USD is currently trading at 0.6525 with a high 0.6527 and a low of 0.6505.
NZD/USD is making a shallow recovery from the lows of the overnight trade that hit another daily low of 0.6490. The dollar was, however, a tad soft at one stage on Fed member, Powell, when he indicated that rates will rise soon, but only 'possibly' this year. However, the markets are more in favour of a hike this September. That said, the ADP report missed expectations and this doesn't favour Friday's Nonfarm Payrolls numbers to the upside. The ADP data arrived below the psychological 200k mark at 185k vs 215k. However, this still 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!
The bird remains wighted to the downside on its own accord with the disappointments of the domestic unemployment change for Q2 that came in line while the participation came in lower than the expected at 69.6% vs actual 69.3%. The employment change also missed at 0.3% vs 0.5%.
NZD/USD short-term bearish bias below current resistance
NZD/USDis testing the 0.6520 resistance and remains better offered on the short-term hourly sticks here. The broader trend is highly bearish and just recently the bird was sold off subsequent to the shooting start formation on the 28th of July daily stick. Analysts at TD Securities are calling for 0.65 by year-end, and 0.59 by end-2016.
NZD/USD is making a shallow recovery from the lows of the overnight trade that hit another daily low of 0.6490. The dollar was, however, a tad soft at one stage on Fed member, Powell, when he indicated that rates will rise soon, but only 'possibly' this year. However, the markets are more in favour of a hike this September. That said, the ADP report missed expectations and this doesn't favour Friday's Nonfarm Payrolls numbers to the upside. The ADP data arrived below the psychological 200k mark at 185k vs 215k. However, this still 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!
The bird remains wighted to the downside on its own accord with the disappointments of the domestic unemployment change for Q2 that came in line while the participation came in lower than the expected at 69.6% vs actual 69.3%. The employment change also missed at 0.3% vs 0.5%.
NZD/USD short-term bearish bias below current resistance
NZD/USDis testing the 0.6520 resistance and remains better offered on the short-term hourly sticks here. The broader trend is highly bearish and just recently the bird was sold off subsequent to the shooting start formation on the 28th of July daily stick. Analysts at TD Securities are calling for 0.65 by year-end, and 0.59 by end-2016.