Dashboard

Solid News

Strong Statistics Support the Position of the NZD

11/1/2022 2:44 PM

The New Zealand currency remains one of the few actively resisting the US dollar, and the morning's housing market data supported the NZD/USD pair, which is close to 0.5855.

Thus, in September, the number of new homes in New Zealand amounted to 50.732K, which is 7.0% higher than the same period last year, while the volume of building permits increased by 3.8% after a decrease of 1.6% in August. The average number of new houses per 1,000 residents was 9.9, up from 9.3 last year. Tomorrow, the employment report will be published, from which analysts expect the country's overall unemployment rate to fall to 3.2% from 3.3% earlier. Then the head of the Reserve Bank of New Zealand, Adrian Orr, will make a speech in which he will comment on the current economic situation and is likely to assess the current monetary policy.

The labor market and the US construction sector situation remain negative, but the US dollar is held at 111.000 in the USD Index. The stagnation could be confirmed today with the release of JOLTs job openings: analysts expect the September figure to drop to 10.000M from 10.053M in August, marking the fifth consecutive decline, with the Manufacturing PMI likely to fall to 50.0 points from 50.9 previously.


The trading instrument is moving within the global downward channel, approaching the resistance line.

Technical indicators keep a buy signal: fast EMAs on the Alligator indicator move away from the signal line, and the AO oscillator histogram forms upward bars in the buying zone.

Resistance levels: 0.5900, 0.6050. | Support levels: 0.5770, 0.5595.

Find Us
Registered Address : Bonovo Road – Fomboni Island of Mohéli – Comoros Union
Physical address: Oasis Moroni,RN1 bureau No 03 Rez-de-chaussée, Comoros Union
Mail Us
[email protected]
Call Us
+269 320 20 60


Risk Warnings
Solid ECN Securities LLC offers trading on Foreign Exchange (‘Forex’ or ‘FX’) and Contracts for Difference (‘CFDs’), which are complex financial products that are traded on margin. They carry a high level of risk since leverage can work both to your advantage and disadvantage. As a result, these products may not be suitable for all investors, as loss of all invested capital may occur. You should not risk more than you are prepared to lose. Before deciding to trade, you need to ensure that you understand the risks involved and consider your investment objectives and level of experience. Seek independent advice, if necessary.
Solid ECN Securities LLC does not issue advice, recommendations or opinions in relation to acquiring, holding or disposing of a CFD. Solid ECN Securities LLC is not a financial advisor and all services are provided on an execution-only basis. This communication is not an offer or solicitation to enter into a transaction and shall not be construed as such.
This website is not directed at any jurisdiction and is not intended for any use that would be contrary to local law or regulation.
By using solidecn.com you agree to use our cookies to enhance your experience.
Solid ECN Securities LLC is authorized and regulated by the Comoros Union with reference number HY00623411.
Disclaimer 1: The information provided on this site is not intended for residents of any country or jurisdiction where its distribution or use would violate local laws or regulations.
Disclaimer 2: Solid ECN Securities LLC and it affiliates does not provide services to residents of the USA, Japan, Canada, Australia, the Democratic Republic of Korea, European Union, United Kingdom, Iran, Syria, Sudan and Cuba.
Copyright All Right Reserved 2025 SolidECN.com