NZD Overview: Are the Bulls Finally in Charge?

Last week was relatively positive for the Kiwi Dollaras a range of US economic data proved weaker than expected. The US NFP was highly negative, coming in at 142k (202k exp) whilst Average Hourly Earnings also fell to 0.0% m/m. The NZD Subsequently rose higher and managed to finish the week around the 0.6450 level. However, the week ahead will prove critical for the venerable currency as it prepares to be largely dominated by the US unemployment rate and Non-Manufacturing PMI results. The next few days will see the Kiwi Dollar focused upon the US labour market as the Unemployment Claims figures fall due. The market will be closely watching the results from this indicator, for some sort of signal as to the US Federal Reserve’s intent in the coming FOMC meeting.
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