Baxia Markets
October 07, 2022

NZDUSD -1.37%

upcoming events analysis top header

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%.


TW_Big Mover - Blue AIG (2)

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. 


We love to hear new ideas from traders and want to know what you think! 


If you like this topic and want to suggest future topics that you find helpful, let us know by clicking the ‘submit your feedback’ button below.


Open Live Account  


Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. 


Nothing contained in this website should be construed as investment advice. Any reference to an investment's past or potential performance is not, and should not be construed as, a recommendation or as a guarantee of any specific outcome or profit.

forex, trading conditions, technical analysis, trading indicator, fundamental analysis

Subscribe by Email