NZD - BULLISH
1️⃣ The unemployment rate handily beat the 5.6% forecast coming in at 4.0% and helped to push kiwi to trade well.
2️⃣ RBNZ Survey of Business Expectations for July revealed that inflation expectations over the next year returned to 1.03% from 0.74%, while business leaders are slightly more optimistic about underemployment.
USD - BEARISH
1️⃣ ADP reporting significantly weaker than expected private payroll growth in July (167K vs. 2.3 million forecast).
2️⃣ The employment component of non-manufacturing ISM dropping to 42.1 from 43.1, all signs point to a slowdown in labor market recovery last month.
3️⃣ The US government is expected to deliver a new stimulus plan by the end of the week, but there were no signs of an agreement as congressional Democrats and White House officials continued to be divided on key components of the bill.
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Technical
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📊 We buy NZDUSD on RBS level + SMA50 area.
📊 NZDUSD in bullish zone.
1️⃣ The unemployment rate handily beat the 5.6% forecast coming in at 4.0% and helped to push kiwi to trade well.
2️⃣ RBNZ Survey of Business Expectations for July revealed that inflation expectations over the next year returned to 1.03% from 0.74%, while business leaders are slightly more optimistic about underemployment.
USD - BEARISH
1️⃣ ADP reporting significantly weaker than expected private payroll growth in July (167K vs. 2.3 million forecast).
2️⃣ The employment component of non-manufacturing ISM dropping to 42.1 from 43.1, all signs point to a slowdown in labor market recovery last month.
3️⃣ The US government is expected to deliver a new stimulus plan by the end of the week, but there were no signs of an agreement as congressional Democrats and White House officials continued to be divided on key components of the bill.
=====
Technical
=====
📊 We buy NZDUSD on RBS level + SMA50 area.
📊 NZDUSD in bullish zone.