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21 Oct 2013
NZD/USD jittery ahead of NFP’s tomorrow
FXstreet.com (London) - NZD/USD is jittery ahead of tomorrows NFP’s. The pair opened lower with a gap on the charts and declined 40 pips before reverting on the bid to close the gap.
Research teams at TD Securities said the net permanent migration jumped by +2740 in Sep, where the monthly and annual increase are at decade highs. “The upside pressure on domestic demand is intensifying. Credit card spend in Sep was –0.1%/mth, entirely as expected as the upwardly revised Aug jump of +1.4%/yr”. Later today we will see NZ trade balance for Sep month on month. They continued and mentioned the delayed September NFP’s report is out tomorrow… “and we look for a 182k gain in payrolls (market +180k), from +169k in August…The USD will remain sensitive to the relative strength/weakness of the data, even though the Fed remains side-lined for the next few months”.
NZD/USD Levels
The 20 DMA is 0.8331, the 50 DMA is 0.8132 and the 200 DMA is 0.8183. RSI (14) reads 47.08. Supports are ascending from 0.8398, 0.8416 and 0.8430. Spot is currently 0.8463 while resistances are 0.8506, 0.8529, 0.8558, 0.8587 and 0.8643.
Research teams at TD Securities said the net permanent migration jumped by +2740 in Sep, where the monthly and annual increase are at decade highs. “The upside pressure on domestic demand is intensifying. Credit card spend in Sep was –0.1%/mth, entirely as expected as the upwardly revised Aug jump of +1.4%/yr”. Later today we will see NZ trade balance for Sep month on month. They continued and mentioned the delayed September NFP’s report is out tomorrow… “and we look for a 182k gain in payrolls (market +180k), from +169k in August…The USD will remain sensitive to the relative strength/weakness of the data, even though the Fed remains side-lined for the next few months”.
NZD/USD Levels
The 20 DMA is 0.8331, the 50 DMA is 0.8132 and the 200 DMA is 0.8183. RSI (14) reads 47.08. Supports are ascending from 0.8398, 0.8416 and 0.8430. Spot is currently 0.8463 while resistances are 0.8506, 0.8529, 0.8558, 0.8587 and 0.8643.