Currencies

[Raam]

NZD/USD 9 DAYS ALREADY HOVERING AROUND 0.7750


The NZD/USD foreign exchange rate is last trading at 0.7751, around session lows, but still little moved in last 9 trading days, holding ground above the 0.77 round bid line.

NZD/USD volatility dropping

With all eyes now in neighbor's Australia retail sales and trade balance data , The Kiwi dollar is trapped inside a very narrow trading range 0.7767/0.7735,

Making volatility to dramatically slow down, last around the 128 pips per day on average for last 14 trading days.

NZD/USD Key technical levels

The Immediate support to the downside for NZD/USD lies at yesterday's lows 0.7735, followed by Friday's/June 20 lows at 0.7710, and June 24 fresh 1-year lows at 0.7681.

Closest resistance to the upside shows at recent session highs at 0.7768, followed by June 25 highs at 0.7798, and Monday's/Tuesday's weekly highs at 0.7830.

[Amir]

• USA’s ADP Employment Change

News release Time 16.15 PM Dubai Time 12:15 PM GMT

Actual : - Forecast : 160 K Previous : 135 k

Impact : High

The ADP National Employment Report is a measure of the monthly change in non-farm, private employment, based on the payroll data of approximately 400,000 U.S. business clients.
The release, two days ahead of government data, is a good predictor of the government's non-farm payroll report. The change in this indicator can be very volatile.
Job creation is an important leading indicator of consumer spending, which accounts for a majority of overall economic activity.
ADP provides payroll services to US corporations, and they analyze data from around 400,000 customers to derive employment growth estimations.


A higher than expected reading should be taken as positive / bullish for the USD.
While a lower than expected reading should be taken as negative / bearish for the USD.

• USA’s Initial Jobless Claims

News release Time 16.30 PM Dubai Time 12:30 PM GMT

Actual : - Forecast : 345 K Previous : 346 k

Impact : High

The Initial Jobless Claims released by the US Department of Labor is a measure of the number of people filing first-time claims for state unemployment insurance.
In other words, it provides a measure of strength in the labor market.

This is the nation's earliest economic data. The market impact fluctuates from week to week - there tends to be more focus on the release when traders need to diagnose recent developments, or when the reading is at extreme
Although it's generally viewed as a lagging indicator, the number of unemployed people is an important signal of overall economic health because consumer spending is highly correlated with labor-market conditions;

A larger than expected number indicates weakness in this market which influences the strength and direction of the US economy.

Generally a decreasing number should be taken as positive or bullish for the USD.
And a increasing number should be taken as negative or bearish for the USD.