NZDUSD -1.37%

Switzerland will release the unemployment rate for September; expert consensus indicates that it will stay at 2%. A higher-than-expected figure will weaken the CHF against the USD and other currencies.

Canada will also announce the unemployment rate for September, and analysts expect a rate of 5.4%, which is the same as the previous month. A higher figure will weaken the CAD.

The US will announce the Non-Farm Payrolls; consensus suggests that there will be a steep decline from the previous month's figure of 315K to 250K. If the result exceeds the predicted amount, the USD will get stronger. During the last few months, the US labor market has been strong. Still, we could finally see it give in as some economic indicators suggest that the US economic activity is slowing down.

The US will also release the unemployment rate; experts anticipate that the rate will stay at 3.7%, and projections for next year indicate that the US unemployment could reach 3.9%.

NZDUSD is resuming the downtrend despite weak results from the US Initial Jobless Claims; the pair could find support at $0.55653. RSI is close to entering an oversold status which could change the market sentiment. Bollinger bands are wide and moving down, strengthening the short signals.

The US dollar strengthened after Minneapolis Fed President Neel Kashkari stated that the Fed is far from loosening the monetary policy. Hawkish remarks from other Fed officials also suggest that the rate hikes will continue during 2023, strengthening the USD during the trading session. 

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