NZDUSD on Friday dropped -0.41% to 0.57070. Week ending 2025-03-07 rose 1.95%. What happened.

NZDUSD Analysis

Performance
Period	Pct	Chg	Momentum
Friday	-0.41%	-23.7 Pips
Week 2025-03-07	1.95%	109.3 Pips
March	1.95%	109.3 Pips

Upcoming key events for the new week (London Time)

Wed 12:30 PM CPI Inflation Rate (12-mth)
Thu 12:30 PM PPI excluding Food and Energy sectors (12-mth)
Fri 02:00 PM Index of Consumer Sentiment

What happened over the week

In the United States, February’s Nonfarm Payroll Employment increased to 151,000, marking an improvement from the revised January figure of 143,000 as reported by the Bureau of Labor Statistics. This signals continued job growth, albeit at a moderate pace. Average Hourly Earnings saw a decrease in the month-over-month measurement from 0.4% in January to 0.3% in February, while the annual growth rate edged up slightly to 4%. The U.S. unemployment rate rose slightly to 4.1% in February from the previous month’s 4%. Nonfarm Business Labor Productivity improved to 1.5% in Q4, showing increased efficiency in the workforce, while Unit Labor Costs decreased from 3% in Q3 to 2.2% in Q4, indicating reduced cost pressures. Initial Unemployment Insurance Claims fell to 221,000 in the week ending 01 March. The Census Bureau reported a rebound in new orders for manufactured goods, which rose by 1.7% in January, reflecting economic resilience in the manufacturing sector.

In New Zealand, seasonally adjusted building consents for new dwellings increased by 2.6% in January, recovering from a significant drop of -5.6% in December 2024, according to Stats NZ. This indicates a recovery in the construction sector, which could contribute to economic growth.

For the NZDUSD, the U.S. economic data presented mixed signals. The rise in nonfarm payrolls suggests a steady labor market, which usually supports the USD. However, the small uptick in unemployment and the decrease in short-term wage growth could weigh on the USD’s strength. Additionally, improved productivity and reduced unit labor costs are positive for U.S. economic prospects, supporting the USD. In contrast, the recovery in New Zealand’s building consents is positive for the NZD, reflecting a potential growth boost. Overall, with the upcoming high-impact U.S. CPI, PPI, and Consumer Sentiment reports, the NZDUSD exchange rate may see volatility. Despite this, the NZDUSD closed higher over the week but remained within the previous range, indicating relative stability amid these developments.

From X (Twitter)

Latest release: Home consents up in the month of January 2025.https://t.co/h9sI34Ubdo pic.twitter.com/zM2i5GfOWC

— Stats NZ (@Stats_NZ) March 3, 2025

What can we expect from NZDUSD for the new week and what happened on Friday?

NZDUSD on Friday dropped -0.41% to 0.57. Price is above 9-Day EMA while Stochastic is rising. For the week ending 2025-03-07, the pair rose 1.95% or 109.3 pips higher.

Looking ahead, NZDUSD looks bearish as the pair posted lower in Friday trading session.

For the new week, our technical outlook is mixed. To see upside interest, we prefer to look at price breakout of week high of 0.58 or at least consolidates above Weekly Pivot level of 0.57. On the downside, we are looking at week low 0.56 or 0.56 (WS1) as immediate support level. NZDUSD need to break on either side to indicate a short-term bias. A break above 0.58 would suggest bullish bias after recent positive movement.

For the month of March, NZDUSD is up by 1.95% or 109.3 pips higher.

Weekly key levels to watch out:

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