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Forex

NZD Surges Amid Soft US Labor Data and Cooling Oil Prices

Guavy AI Editorial Team
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USD NZD
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The New Zealand Dollar (NZD) has gained around 0.3% and is trading near $0.5886, extending its recovery from weekly lows.

This comes as the US Dollar remains on the defensive due to softer JOLTS Job Openings and a collapse in crude oil prices.

Investors are looking for directional cues from upcoming economic data releases, including the ADP Employment Change and ISM Services PMI.

The New Zealand labor market report is also in focus, with forecasts indicating an unemployment rate of 5.4% and a slowing employment change of 0.1% QoQ.

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