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Forex - NZD/USD lower on tepid U.S. employment data

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Investing.com - The New Zealand dollar slipped lower against its U.S. counterpart on Monday, as market sentiment slightly weakened after the release of tepid U.S. nonfarm payrolls data on Friday.

NZD/USD hit 0.8287 during late Asian trade, the daily low; the pair subsequently consolidated at 0.8296, shedding 0.25%.

The pair was likely to find support at 0.8266, the low of January 2 and resistance at 0.8352, the high of January 3.

On Friday, the U.S. Department of Labor said the economy added 155,000 jobs in December, slightly higher than forecasts for an increase of 150,000, but easing from an upwardly revised increase of 161,000 in November, suggesting that the recovery in the labor market may be slowing.

The data came one day after the minutes of the Federal Reserves' December policy meeting showed that some policymakers considered an earlier-than-expected end to the bank's quantitative easing program.

The kiwi was lower against the Australian dollar with AUD/NZD rising 0.21%, to hit 1.2623.

Later in the day, the euro zone was to produce official data on producer price inflation, as well as a report on investor confidence.

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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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