News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Bearish
Oil - US Crude
Bullish
Wall Street
Bearish
Gold
Bearish
GBP/USD
Bearish
USD/JPY
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Real Time News
  • The ISM manufacturing index plays an important role in forex trading, with ISM data influencing currency prices globally. Find out about the recent history of ISM data, how to track it, and how to trade its release here: https://t.co/MZtBh88nOv https://t.co/hQgZB9T73q
  • The continuity seen across these volatility cycles is a good thing. Historical precedence offer a blueprint for identifying conditions supportive for a vol-event to occur, and how they may unfold. Deepen your knowledge of historical volatility here: https://t.co/vg7w10CKUR https://t.co/9JVh6BsWa2
  • There’s a strong correlation between interest rates and forex trading. Forex is ruled by many variables, but the interest rate of the currency is the fundamental factor that prevails above them all. Learn how interest rates impact currency markets here: https://t.co/J0EPMD2Cfi https://t.co/ZDuee58Abe
  • Many people are attracted to forex trading due to the amount of leverage that brokers provide. Leverage allows traders to gain more exposure in financial markets than what they are required to pay for. Learn about FX leverage here: https://t.co/BdgFmkRxVw https://t.co/niJL2W2yXV
  • GDP (Gross Domestic Product) economic data is deemed highly significant in the forex market. GDP figures are used as an indicator by fundamentalists to gauge the overall health and potential growth of a country. Learn use GDP data to your advantage here: https://t.co/Yl9vM7kO6a https://t.co/0rNbbrd58e
  • Traders utilize varying time frames to speculate in the forex market. The two most common are long- and short-term-time frames which transmits through to trend and trigger charts. Learn more about time-frame analysis here: https://t.co/9S5tXIs3SX https://t.co/zPzJAxBJxt
  • Emotions are often a key driving force behind FOMO. If left unchecked, they can lead traders to neglect trading plans and exceed comfortable levels of risk. Read on and get your emotions in check here: https://t.co/eILWbFgHRE https://t.co/uf6KEYTes5
  • There are three major forex trading sessions which comprise the 24-hour market: the London session, the US session and the Asian session. Learn about the characteristics of each session here: https://t.co/reRmDe1Ksp https://t.co/gRjdVfbg66
  • Implementing a trading checklist is a vital part of the trading process because it helps traders to stay disciplined, stick to the trading plan, and builds confidence. Learn how to stick to the plan, stay disciplined, and use a checklist here: https://t.co/SQUCCYRCIk https://t.co/mLLGqYUygY
  • Use this technical analysis pattern recognition skills test to sharpen your knowledge: https://t.co/Qgz89PTxnu https://t.co/HUYJzEkYiT
NZ Dollar Gains as Jobs Report Boosts RBNZ Rate Hike Bets

NZ Dollar Gains as Jobs Report Boosts RBNZ Rate Hike Bets

Daniel Dubrovsky, Strategist

Talking Points:

  • New Zealand Dollar gained against its peers as a better-than-expected jobs report crossed the wires
  • Unemployment fell to 4.9% versus 5.1% expected, job growth was 5.7% y/y versus 5.3% forecasted
  • Local 2-year government bond yields rallied, which signaled growing RBNZ rate hike expectations

Have a question about trading NZD/USD? Join a trading Q&A webinar and ask it live!

The New Zealand Dollar rallied against its major counterparts after a better-than-expected jobs report crossed the wires. New Zealand’s unemployment rate fell to 4.9% in the first quarter of 2017 against expectations of it lowering to 5.1%.

The number of employed positions grew by 5.7% y/y versus predictions of 5.3% growth. Quarterly readings for the same measurement also beat estimates at 1.2% versus 0.8% seen.

Not only did the country see lower unemployment and estimate-beating employment change, but also the labor force participation rate increased to 70.6% instead of estimates calling for it to hold at 70.5%.

New Zealand front-end government bond yields gained as the employment report was released, signaling firming RBNZ rate hike expectations. Overnight index swaps see an 80 percent probability that the central bank will increase its official cash rate once over the coming 12 months.

The Reserve Bank of New Zealand noted that numerous uncertainties remain in its most recent monetary policy statement. While Governor Graeme Wheeler did not mention employment in the text, perhaps today’s upbeat employment report could be favorably cited at its next interest rate decision on May 10th.

NZ Dollar Gains as Jobs Report Boosts RBNZ Rate Hike Bets

Chart created in TradingView

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES