Nzdusd analysis: Market dynamics and economic indicators influence currency movements

NZDUSD Analysis

Performance after Wednesday
Period	Pct	Chg	Momentum
Wednesday	0.44%	26.4 Pips
Week to-date	1.24%	74 Pips
June	1.24%	74 Pips

Upcoming key events (London Time)

Fri 01:30 PM USD Nonfarm Payroll Employment

What happened lately

In the United States, April 2025 saw a notable decrease in new orders for manufactured goods, declining by 3.7%, a further dip from March’s revised figure of 3.4%. This downturn suggests a potential slowdown in the manufacturing sector, hinting at reduced industrial output and a possible deceleration in economic growth. In contrast, the U.S. Job Openings and Labor Turnover Survey (JOLTS) indicated an increase in job openings, rising to 7.391 million in April from a revised 7.2 million in March. This rise in job openings may signal a continued strong demand for labor, reflecting resilience in the labor market despite potential weaknesses in manufacturing.

The impact of these U.S. economic data points on NZDUSD is multifaceted. The decrease in U.S. manufactured goods orders points to weaker economic activity, which might exert downward pressure on the U.S. dollar as it suggests a potential softening in economic conditions. In contrast, the increase in job openings could bolster USD, demonstrating ongoing strength in the labor market, potentially signaling economic resilience. However, the focus will likely shift to upcoming U.S. economic data, such as the Nonfarm Payroll Employment report, which is a crucial determinant of market sentiment and dollar strength. Consequently, NZDUSD, which has recently experienced a modest rise, is poised for potential volatility depending on future U.S. data releases, with expectations around economic indicators being pivotal in determining the pair’s direction.

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What can we expect from NZDUSD today?

NZDUSD on Wednesday rose 0.44% to 0.60224. Price is above 9-Day EMA while Stochastic is rising.

Updated daily direction for NZDUSD looks mixed as the pair is likely to consolidate above 0.59962 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 0.60391 or trades above daily pivot 0.60176. Break above could target R1 at 0.60439. While to the downside, we are looking at 0.59962 (S1) and daily low of 0.59914 as support levels. NZDUSD need to break on either side to indicate a short-term bias. A break above 0.60391 may suggest continuation after recent positive movement.

For the week to-date, take note that NZDUSD is bullish as the pair continued to trade higher and is up by 1.24% over the past few days.

Key levels to watch out:

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