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New Zealand dollar slips as stronger US jobs data lifts USD demand
NZD/USD weakened after US Initial Jobless Claims fell to 187K for the week ending July 18, well below expectations of 212K.
FXStreet reports that the New Zealand dollar fell against the US dollar, with NZD/USD trading lower near the 0.5770 area on Thursday as USD demand firmed following better-than-expected US labor-market data.
According to FXStreet, US Initial Jobless Claims dropped to 187K for the week ending July 18, compared with the market forecast of 212K and the prior revised reading of 209K. The move, reported as 25K below expectations, suggests layoffs remain limited and that the US labor market continues to show resilience.
FXStreet also linked the USD strength to renewed geopolitical uncertainty that has boosted safe-haven demand for the Greenback, pressuring risk-sensitive currencies like the NZD. The data could reinforce expectations that the Federal Reserve will keep policy restrictive for longer.
On the NZD/USD chart, FXStreet said the pair is around 0.5774 on the 4-hour timeframe, holding below the 20-period SMA at 0.5820. It noted RSI near 27 signals oversold conditions, with nearby support around 0.5770 and 0.5767, while resistance is clustered near 0.5780 to 0.5789.