• NZD/USD -0.2% Wed as Q2 employment data undermines RBNZ's hawkish posturing

• NZ Q2 HLFS unemployment 5.6% (poll 5.4%), labour cost index +0.7% q/q

• Critical NZD pivot at 0.5873 at risk (again), break below bearish

• U.S. equities close at record highs on positive earnings, Middle east hopes

• Claims of progress in U.S.-Iran peace negotiations continue, WTI -6.3%

• Bessent flags ongoing U.S. support for JP after JPY intervention

• Range NZ 0.5879-96, support 0.5627 5580, resistance 0.5990-95 0.60925
NZD Hourly Bollinger Study & DXY Daily 55-DMA

(James Connell is a Reuters market analyst. The views expressed are his own.)