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NZ dollar slides as stronger US jobs data lifts demand for the US dollar
NZD/USD fell toward 0.5770 after US Initial Jobless Claims dropped to 187K versus 212K expected, keeping pressure on risk-sensitive currencies.
The New Zealand dollar weakened on Thursday against the US dollar, with NZD/USD trading near the 0.5770 area as the US dollar gained after better-than-expected US labor-market data.
FXStreet reports that US Initial Jobless Claims fell to 187K for the week ending July 18, below the 212K market forecast and 209K previously revised, pointing to a more resilient labor market and supporting expectations that the Federal Reserve could stay restrictive for longer.
The outlet added that renewed geopolitical uncertainty is also increasing safe-haven demand for the greenback, weighing on risk-sensitive currencies like the NZD. While elevated New Zealand inflation supports expectations for tighter policy from the Reserve Bank of New Zealand, it has not been enough to offset broader USD strength.
On the technical side, FXStreet said NZD/USD was around 0.5774, staying below the 20-period simple moving average near 0.5820, with the RSI around 27 indicating oversold conditions that could slow further declines. Immediate support was cited near 0.5774 and 0.5770, with a clearer breakdown expected to extend the downtrend.