NZD - New Zealand Dollar
The Kiwi rose modestly against the USD last trading session, as it gained traction from weaker US Non-Farm employment data with support from AUD strength. The US employment data, showing the change in the number of employed people during December, showed that only 145k jobs were created last month, compared to forecasts of 162k.
In terms of macroeconomic news, the NZD is expected to see major movements with the release of the NZIER Business Confidence report on Tuesday morning. Showing the level of a diffusion index based on surveyed manufacturers, it is a leading indicator of economic health.
The NZD opened at 0.6636 against the USD this morning.
As above, US Non-Farm employment data did not meet expectations, falling short of it’s forecast of 162k, with only 145k jobs created. Job creation is an important indicator of consumer spending, as it accounts for a majority of overall economic activity. The US unemployment rate held steady at 3.5%.
Over in Canada, the roles were reversed as employment change came back better than expected at 35.2k opposed to 24.9k, and their unemployment rate dropped from 5.6% from 5.9% last month.
In the future, we can expect to see some movement in these currency pairs with the release of the US CPI data just after midnight on Tuesday. Showing the change in the price of goods and services purchased by consumers, consumer prices account for a majority of overall inflation
0.9560 - 0.9695 ▲NZD/CAD:
0.8600 - 0.8755 ▲NZD/EUR:
0.5885 - 0.6040 ▲GBP/NZD:
1.9495 - 1.9980 ▼NZD/USD:
0.6545 - 0.6715 ▲