Current trend
Supported by soaring commodity prices and positive employment statistics from the Stats N.Z. agency, the NZD/USD pair is holding at stable levels around 0.6945.
Over the past month, the number of employed jobs in the country increased by 5,989K, which is 0.3% higher than in January. The sector of scientific and technological services showed the greatest growth of the indicator, having added 8.2% or 14.185K jobs, and in the construction sector, the value increased by 7.0%. Security added 6.8%, while healthcare and retail added 4.1% and 3.9%, respectively.
Meanwhile, the USD Index is trying to break through the 99.000 mark. US 10-year Treasury yields rose nearly 2.5% amid investor optimism following "hawkish" rhetoric from the U.S. Fed and officials willing to push up to seven rate hikes in 2022. A preliminary estimate the US Nonfarm Payrolls is 488K, which is much lower than the previous figure of 678K, and negative figures may also affect the decision of the country's financial authorities to make a significant interest rate adjustment at the next meeting.
As NBC News reported yesterday, the approval rating for the work of the head of the White House, Joe Biden, continues to decline, currently amounting to only 40%, while at the beginning of the year, it consolidated around 54% steadily. According to the TV channel, first of all, citizens are dissatisfied with the economic situation in the country associated with rising fuel and food prices.
Support and resistance
The instrument moves within the local ascending channel, rising along the resistance line. Technical indicators maintain a stable buy signal: fast EMAs on the alligator indicator are significantly above the signal line, and the A.O. oscillator histogram forms rising bars in the buying zone.
Resistance levels: 0.6980, 0.7158.
Support levels: 0.6889, 0.6710.
Supported by soaring commodity prices and positive employment statistics from the Stats N.Z. agency, the NZD/USD pair is holding at stable levels around 0.6945.
Over the past month, the number of employed jobs in the country increased by 5,989K, which is 0.3% higher than in January. The sector of scientific and technological services showed the greatest growth of the indicator, having added 8.2% or 14.185K jobs, and in the construction sector, the value increased by 7.0%. Security added 6.8%, while healthcare and retail added 4.1% and 3.9%, respectively.
Meanwhile, the USD Index is trying to break through the 99.000 mark. US 10-year Treasury yields rose nearly 2.5% amid investor optimism following "hawkish" rhetoric from the U.S. Fed and officials willing to push up to seven rate hikes in 2022. A preliminary estimate the US Nonfarm Payrolls is 488K, which is much lower than the previous figure of 678K, and negative figures may also affect the decision of the country's financial authorities to make a significant interest rate adjustment at the next meeting.
As NBC News reported yesterday, the approval rating for the work of the head of the White House, Joe Biden, continues to decline, currently amounting to only 40%, while at the beginning of the year, it consolidated around 54% steadily. According to the TV channel, first of all, citizens are dissatisfied with the economic situation in the country associated with rising fuel and food prices.
Support and resistance
The instrument moves within the local ascending channel, rising along the resistance line. Technical indicators maintain a stable buy signal: fast EMAs on the alligator indicator are significantly above the signal line, and the A.O. oscillator histogram forms rising bars in the buying zone.
Resistance levels: 0.6980, 0.7158.
Support levels: 0.6889, 0.6710.