Nzdusd drops amid mixed economic developments in the u.s. and new zealand

NZDUSD Analysis

Performance after Wednesday
Period	Pct	Chg	Momentum
Wednesday	-0.14%	-8.3 Pips
Week to-date	0.56%	34 Pips
July	-0.02%	-1.3 Pips

Upcoming key events (London Time)

Thu 01:30 PM USD Nonfarm Payroll Employment

What happened lately

In May 2025, the U.S. Job Openings and Labor Turnover Survey (JOLTS) data revealed a notable increase in job openings. These openings rose to 7.769 million from a revised figure of 7.395 million recorded in April, as reported by the Bureau of Labor Statistics. This uptick in job openings suggests a potential strengthening of the U.S. labor market, indicating that businesses may be seeking to expand or replace staff at a robust rate. Such improvements could potentially lead to higher employment rates and wage growth, bolstering consumer spending and overall economic performance in the U.S.

In New Zealand, building consents for new dwellings showed strong growth in May 2025. According to Stats NZ, there was a seasonally adjusted increase of 10.4%, a significant rebound from the revised -14.6% in April. This positive turn in building consents suggests a recovering property and construction sector, potentially driven by rising demand for new housing. This growth may contribute to improved economic performance, as the construction sector plays a vital role in New Zealand’s economy by boosting employment and related industries.

Despite the positive economic developments in both the U.S. and New Zealand, the NZDUSD currency pair experienced a slight decline of 0.14% to 0.60859. The pair is currently in a consolidation phase as market participants balance the competing economic narratives. The increase in U.S. job openings is a positive indicator for the U.S. economic outlook, potentially supporting a stronger U.S. dollar. Conversely, the rebound in New Zealand building consents reflects optimism in their economy, which could bolster the New Zealand dollar. However, the upcoming U.S. Nonfarm Payroll Employment report could introduce further volatility and direction to the pair, as it is a high-impact event that traders closely watch. Should the report show stronger than expected job growth, it could further strengthen the U.S. dollar, exerting additional pressure on the NZDUSD pair. However, any indications of economic weakness could favor a recovery for the New Zealand dollar against the U.S. dollar.

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What can we expect from NZDUSD today?

NZDUSD on Wednesday dropped -0.14% to 0.60859. Price is above 9-Day EMA while Stochastic is falling.

Updated daily direction for NZDUSD looks mixed as the pair is likely to consolidate above 0.60549 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 0.61060 or trades above daily pivot 0.60805. Break above could target R1 at 0.61114. While to the downside, we are looking at 0.60549 (S1) and daily low of 0.60495 as support levels. NZDUSD need to break on either side to indicate a short-term bias. A close below 0.60495 would indicate selling pressure.

For the week to-date, take note that NZDUSD is bullish as the pair continued to trade higher and is up by 0.56% over the past few days.

Key levels to watch out:

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