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Aug 01 - 08:55 PM

NZD/USD - Eases After NZ Unemployment Rate Rises

By John Noonan  —  Aug 01 - 07:10 PM
  • NZD/USD slipped to 0.6140 from 0.6165/70 after NZ unemploment rose to 3.6% from 3.5%

  • The market was looking for it to remain at 3.5%

  • Report is mixed as job growth stronger than expected and participation rate higher than expected

  • Wage growth was slightly lower than expected - which would comfort RBNZ

  • Support is a the July 28 low at 0.6121 and break would be bearish

  • Resistance is at the 21-day MA at 0.6226

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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