Article by Investazor.com
The bulls had the upper hand last week and managed to push higher the NZDUSD quotation, gaining almost 100 pips. The indicators for the New Zeeland economy really helped this time and posted a better than expected trade balance surplus (306 million NZD). The ANZ Business Confidence continued the pleasant surprises with an improvement from 64.1 to 70.8 levels. Also, at the beginning of the week the data from the US were still weak, giving NZDUSD a solid advance.
Economic Calendar
ADP Non-Farm Employment Change (8:15 GTM)-Wednesday. This data provides an early look at employment growth, usually two days ahead of NFP, for the labor market from the United States.
Non-Farm Payrolls (8:30 GTM)-Friday. It measures the change in the number of employed people during the previous month, excluding the farming industry. This is a vital economic indicator as job creation is the major target of the Federal Reserve.
Taking into account that this week we won’t have any macroeconomic data from New Zeeland, the indicators which will have the greatest impact are the ADP report and the NFP from the US labor market.
Technical view
NZDUSD, Daily
Support: 0.8240, 0.8050
Resistance:
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