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NZD/USD extends gains to fresh 1-month highs

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 3, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Córdoba) - The kiwi is among the best performers on Wednesday, alongside other commodity currencies, as the greenback extends weakness following dovish comments from Fed’s Dudley at the beginning of the New York session.

    NZD/USD broke above the 100- and 50-day SMAs and climbed to a fresh 1-month high at 0.6644 in recent dealings. At time of writing, the pair is trading at 0.6640, recording a 1.97% daily gain.

    During the Asian session, New Zealand reported the unemployment rate fell to 5.3% during the fourth quarter, its lowest since March quarter 2009.

    Meanwhile, investors look forward to US nonfarm payrolls report due on Friday. Today, ADP data showed the US private sector added 205K jobs in January, slightly above the 195K expected.
    For more information, read our latest forex news.

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