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Forex - NZD/USD higher as market sentiment improves

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Investing.com -

Investing.com - The New Zealand dollar was higher against its U.S. counterpart on Monday, as market sentiment remained supported after Thursday's annoucement of a series of fresh stimulus measures by the European Central Bank.

NZD/USD hit 0.8526 during late Asian trade, the session high; the pair subsequently consolidated at 0.8524, edging up 0.28%.

The pair was likely to find support at 0.8440, the low of June 2 and resistance at 0.8568, the high of May 28.

Market sentiment strengthened after the ECB unveiled last week a package of measures to avert the threat of persistently low inflation in the euro area.

Meanwhile, the greenback was mildly supported after the Department of Labor on Friday reported that the U.S. economy added 217,000 jobs last month, just under expectations for jobs growth of 218,000, while the unemployment rate remained unchanged at a five-and-a-half year low of 6.3%.

Investors were also turning their attention to the outcome of the Reserve Bank of New Zealand's monetary policy meeting scheduled later in the week.

The kiwi was little changed against the Australian dollar, with AUD/NZD inching down 0.02% to 1.0975.

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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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