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NZD Finds Fresh Lows Post US Payrolls

NZD

NZD had a sharp sell off post US Payrolls Friday night of with data coming in at 353,000 vs 185,000, erasing all gains for the week. We closed the week at fresh lows of 0.6065, after also hitting a fresh yearly lows, NZD lost 1.1% last week. Later this morning New Zealand has January Commodity price data out.

  • NZD/USD had been largely rangebound for the week trading in the 0.6100/0.6150 range, however the break and hold at 0.6065 post US payroll data Friday could signal another move lower, the 20 and 50-day EMAs are now 0.6135/45. Fed President Powell is speaking on 60 minutes in 2 hours, levels to watch are 0.6060/6160.
  • AUD/NZD tried and failed three times to break the yearly lows of 1.07 late last week and closed the week back at 1.0739, Australia has trade and inflation data out a bit later. A break below 1.07 could signal a move back to the Dec lows of 1.0655 targeted, while the Oct lows rest at 1.0624.
  • On the data front, ANZ Commodity prices are out later this morning, while the focus will be on Wednesdays Job data.

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