Solid News

NZDUSD is Trading in a Global Bearish Trend

8/30/2022 1:40 PM

Against the background of the stabilization of the US dollar, the NZD/USD pair is correcting near 0.6143.

The report of the Statistical Office of the country (Stats NZ) on job occupancy, published yesterday, reflects a stable situation in the national labor market: the number of workers in all sectors of the economy increased by 0.5% or 10.863K in July. The segment of technical services increased the most, adding 5.1%, followed by construction (4.8%), public administration (4.3%), retail (3.5%), and manufacturing (1.9%) sectors. The only area that showed negative dynamics was agriculture and the extraction of raw materials, where the number of workers decreased by 2.0% or 2.145K people.

The American currency consolidated just below 109.000 in the USD Index. Today, markets look forward to data on the number of open vacancies in the labor market from JOLTS. Analysts suggest that the value will decline to 10.475M from 10.698M a month earlier, which is an alarming signal, especially before tomorrow's report on employment in the non-farm sector, where experts are counting on an upward trend. Today, traders' attention will be focused on the Conference Board report on the index of consumer confidence, which, according to the forecast, may improve to 97.9 points from 95.7 points earlier.


The trading instrument is moving within the global downtrend, approaching the support line. Technical indicators maintain a sell signal: fast EMAs on the Alligator indicator are below the signal line, and the AO oscillator histogram forms downward bars in the sell zone.

Resistance levels: 0.6230, 0.6450. | Support levels: 0.6097, 0.5930.



Find Us
First Floor, First St Vincent Bank LTD Building James Street Kingstown St Vincent and the Grenadines
Call Us
+1 415 367 3742


Solid ECN Securities is an international brand formed and authorized in Saint Vincent and the Grenadines with the registration number 1390 LLC 2021 committed to offering the best possible trading experience. Disclosure: Please note that foreign exchange and other leveraged trading involve a significant risk of loss. It is not fit for all investors and you should make sure you realize the risks involved, seeking independent advice if necessary.
Solid ECN Securities and it affiliates don't accept applications from Indonesia, Egypt, Australia, Bonaire, CuraƧao, East Timor, Liberia, Saipan, Russia, Sint Eustatius, Tahiti, Turkey, Guinea-Bissau, South Sudan and other restricted countries.
Copyright All Right Reserved 2022 SolidECN.com