N.Z Employment Change 0.7% Vs. 0.8% Forecast,NZDUSD Falls !

forex jobless min
forex jobless min

Employment Change measures the change in the number of people employed. Job creation is an important indicator of consumer spending.

N.Z employment change fell from 1.2%  to 0.7%  in the previous quarter, analysts had expected N.Z employment change to make a small decline towards 0.8% last quarter…

N.Z employment change should affect NZDUSD quarterly (we’ll discuss that later after weekly closure ), but now we’ll talk about that for a short period of time …

This development put the NZDUSD under pressure, now eyes on the 0.7440 levels, a halt could be seen but a cut would open 0.7360 next…

Note that sustained breakout – daily closing – below 0.7500 levels, will turn 0.7500 from support to resistance level, but in return, a failure to hold below the 0.7504 levels on a daily closing basis could mean a return to the 0.7625 levels before the next fall…

In all, the NZDUSD remains vulnerable to downside even in case of recovery ………..

Resistance comes at the 0.7576 levels ahead of the 0.7625 levels (main)…

MARKET DATA

UPCOMING ECONOMIC EVENTS