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NZD: NZD/USD Closes Back Above 0.5600, Employment Confidence Rises

NZD
USNew ZealandNorth AmericaBulletAPACForeign Exchange BulletsMarkets
  • NZD/USD closed 0.34% higher on Tuesday, at 0.5602. The pair was supported by China's recent stimulus measures and improved market sentiment tied to US President-elect Trump's potential gradual tariff implementation.
  • PBOC officials reiterated plans to use monetary tools, stabilize the Yuan, and support liquidity, while emphasizing China’s role in driving global economic growth. Meanwhile, the BBDXY retreated from recent highs, falling 0.44% as hawkish Fed sentiment pushed Treasury yields higher, with markets now focusing on upcoming US CPI data for further direction, following a softer than expected PPI print overnight.
  • New Zealand's Employment Confidence Index rose 2.4 points to 91.6 in Q4, signaling continued labor market pessimism but with signs of stabilization. Perceptions of current job opportunities improved for the first time in two years, while expectations for job security and earnings remained relatively steady.
  • Technical indicators still remain bearish, with spot trading below all key moving averages, the pair is at risk of testing the 13-year low of 0.5470 if it breaks below 0.5500. Initial support is 0.5543 (Jan 10 lows), while to the upside a break above 0.5640 (20-day EMA) before any sort of momentum change can occur.
  • The NZ-US 2yr swap rose 15bps on Tuesday, closing at -72bps. On Friday it hit a new yearly lows of -95.5bps just off all time lows of -100bps
  • Expiries for today include 0.5875 (NZD606m), 0.6075 (NZD425.8m). Upcoming notable strikes: 0.5885 (NZD453.7m Jan. 16), 0.6300 (NZD381m Jan. 16), 0.5555 (NZD311.8m Jan. 16)
  • The local calendar is empty today
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  • NZD/USD closed 0.34% higher on Tuesday, at 0.5602. The pair was supported by China's recent stimulus measures and improved market sentiment tied to US President-elect Trump's potential gradual tariff implementation.
  • PBOC officials reiterated plans to use monetary tools, stabilize the Yuan, and support liquidity, while emphasizing China’s role in driving global economic growth. Meanwhile, the BBDXY retreated from recent highs, falling 0.44% as hawkish Fed sentiment pushed Treasury yields higher, with markets now focusing on upcoming US CPI data for further direction, following a softer than expected PPI print overnight.
  • New Zealand's Employment Confidence Index rose 2.4 points to 91.6 in Q4, signaling continued labor market pessimism but with signs of stabilization. Perceptions of current job opportunities improved for the first time in two years, while expectations for job security and earnings remained relatively steady.
  • Technical indicators still remain bearish, with spot trading below all key moving averages, the pair is at risk of testing the 13-year low of 0.5470 if it breaks below 0.5500. Initial support is 0.5543 (Jan 10 lows), while to the upside a break above 0.5640 (20-day EMA) before any sort of momentum change can occur.
  • The NZ-US 2yr swap rose 15bps on Tuesday, closing at -72bps. On Friday it hit a new yearly lows of -95.5bps just off all time lows of -100bps
  • Expiries for today include 0.5875 (NZD606m), 0.6075 (NZD425.8m). Upcoming notable strikes: 0.5885 (NZD453.7m Jan. 16), 0.6300 (NZD381m Jan. 16), 0.5555 (NZD311.8m Jan. 16)
  • The local calendar is empty today