Confirming you are not from the U.S. or the Philippines

By giving this statement, I explicitly declare and confirm that:
  • I am not a U.S. citizen or resident
  • I am not a resident of the Philippines
  • I do not directly or indirectly own more than 10% of shares/voting rights/interest of the U.S. residents and/or do not control U.S. citizens or residents by other means
  • I am not under the direct or indirect ownership of more than 10% of shares/voting rights/interest and/or under the control of U.S. citizen or resident exercised by other means
  • I am not affiliated with U.S. citizens or residents in terms of Section 1504(a) of FATCA
  • I am aware of my liability for making a false declaration.
For the purposes of this statement, all U.S. dependent countries and territories are equalled to the main territory of the USA. I accept full responsibility for the accuracy of this declaration and commit to personally address and resolve any claims or issues that may arise from a breach of this statement.
Cancel Confirm
We are dedicated to your privacy and the security of your personal information. We only collect emails to provide special offers and important information about our products and services. By submitting your email address, you agree to receive such letters from us. If you want to unsubscribe or have any questions or concerns, write to our Customer Support.
Confirm
Octa trading broker Sign up Log in
Octa trading broker
Open trading account
Trading news
Back
4 Aug 2020

NZD/USD moves sideways around 0.6600 ahead of key New Zealand jobs report

  • NZD/USD is fluctuating in a tight range on Tuesday.
  • US Dollar Index posts small daily losses below 93.50.
  • Unemployment Rate in New Zealand is expected to rise to 5.8% in Q2.

The NZD/USD pair closed the first day of the week with small losses and is now struggling to make a decisive move in either direction. As of writing, the pair was virtually unchanged on a daily basis at 0.6612.

On Monday, the broad-based USD strength witnesses during the first half of the day caused the pair to edge lower. With the 10-year US Treasury bond yield losing more than 2% on Tuesday, the US Dollar Index dropped into the negative territory and was last seen down 0.1% on the day at 93.42.

In the second half of the day, the ISM-NY Business Conditions Index and the IBD/TIPP Economic Optimism data will be looked upon for fresh impetus.

More importantly, Statistics New Zealand will release its labour market report in the early trading hours of the Asian session on Wednesday. Market participants expect the Unemployment Rate in the second quarter to rise from 4.2% to 5.8% with the Employment Change declining by 2%. Better-than-expected jobs figures could provide a boost to the kiwi and help NZD/USD erase Monday's losses. On the other hand, 

NZD/USD near-term outlook

“Yesterday, we held the view that NZD ‘could test the strong support at 0.6600’ but ‘a sustained decline below this level is unlikely’. NZD subsequently dropped to a low of 0.6575 before rebounding," FX strategists at the UOB Group said. "While downward pressure is not strong, there is scope for NZD to retest the 0.6575 level before a more sustained recovery can be expected. Resistance is at 0.6630 followed by 0.6650.”

Technical levels to watch for

 

Aug 4, 2020

EUR/USD Price Analysis: Rebound is now seen testing 1.19 and above

Following an ephemeral test of the sub-1.17 area on Monday, EUR/USD has now regained buying interest and clinched tops in the 1.18 neighbourhood, alth
Read more Previous
Aug 4, 2020

Gold predicted to advance to $2,200/oz in Q1 2021 – UOB

Strategists at UOB Group gave their opinion on the perspective for the precious metal in the next months. Key Quotes “Since last year, we have maintai
Read more Next