NZD/USD Fundamental Analysis October 6, 2014 Forecast

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Updated: Aug 24, 2015, 22:00 UTC

Analysis and Recommendation: The NZD/USD tumbled farther as the US dollar gained in the Asian session to trade at 0.7866. The pair fell 34 points. The

NZD/USD Fundamental Analysis October 6, 2014 Forecast

Analysis and Recommendation:

The NZD/USD tumbled farther as the US dollar gained in the Asian session to trade at 0.7866. The pair fell 34 points. The New Zealand dollar was pulled upwards by a strengthening euro after the European Central Bank failed to detail the size of its upcoming bond purchase plan, curbing bets it would expand its balance sheet enough to weaken the currency. The currency market is likely to be quiet today as investors sit tight ahead of the key US non-farm payrolls release.

Traders expect the report will show the US added more than 250,000 jobs last month, ahead of the market expectation for 215,000. A report yesterday showed initial claims for state unemployment benefits in the US dropped 8,000 to a seasonally adjusted 287,000 in the week ended Sept 27, better than the 297,000 expected in a Reuters poll of economists.

The New Zealand dollar is likely to be little changed at the end of this week, belying the volatility of events that saw it drop to its lowest in more than a year. The New Zealand dollar is likely to be little changed at the end of this week, belying the volatility of events that saw it drop to its lowest in more than a year.

FxEmpire provides in-depth analysis for each currency and commodity we review. Fundamental analysis is provided in three components. We provide a detailed monthly analysis and forecast at the beginning of each month. Then we provide more up to the data analysis and information in our weekly reports.

Today’s economic releases actual vs. forecast: