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Forex - NZD/USD lower in cautious trade

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Investing.com - The New Zealand dollar was lower against its U.S. counterpart on Monday, as markets were jittery amid ongoing euro zone debt fears and concerns over the U.S. job market.

NZD/USD hit 0.8406 during late Asian trade, the session low; the pair subsequently consolidated at 0.8425, slipping 0.11%.

The pair was likely to find support at 0.8374, Friday's low and resistance at 0.8448, the high of April 3.

Investors remained cautious after the Department of Labor on Thursday said the U.S. economy added 88,000 jobs last month, the smallest increase since last June and far below forecasts for an increase of 200,000. The U.S. unemployment rate ticked down to 7.6% from 7.7% in February.

The report came after disappointing data on U.S. manufacturing and service sector activity and private sector job creation earlier in the week.

The kiwi was steady against the Australian dollar with AUD/NZD inching 0.01% higher, to hit 1.2320.

Earlier Monday, data showed that job advertisements in Australia fell 1.5 % in March, after a 3% increase the previous month.

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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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