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Forex - NZD/USD almost unchanged in cautious trade

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Investing.com -

Investing.com - The New Zealand dollar was almost unchanged against its U.S. counterpart on Monday, as markets were still jittery after Friday's lower than expected U.S. nonfarm payrolls data.

NZD/USD hit 0.8615 during late Asian trade, the pair's highest since April 2; the pair subsequently consolidated at 0.8600, inching up 0.01%.

The pair was likely to find support at 0.8531, the low of April 4 and resistance at 0.8685, the low of March 31.

Sentiment on the greenback remained vulnerable after data on Friday showed that the U.S. economy added 192,000 jobs in March, below expectations for jobs growth of 200,000. The U.S. unemployment rate remained unchanged at 6.7%, compared to expectations for a downtick to 6.6%.

Although the data disappointed market expectations, it still seemed to indicate that the Federal Reserve will maintain the current pace of reductions to its asset purchase program.

The kiwi was higher against the Australian dollar, with AUD/NZD edging down 0.12% to 1.0791.

Also Monday, industry data showed that job advertisements in Australia rose by 1.4% in March, after a 4.7% increase in February, whose figure was revised down from a previously estimated 5.1% gain.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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