{"id":102844,"date":"2020-08-05T08:06:07","date_gmt":"2020-08-05T12:06:07","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=102844"},"modified":"2020-08-05T09:24:07","modified_gmt":"2020-08-05T13:24:07","slug":"103773-stocks-rally-aud-nzd-to-wilt-on-new-zealand-job-strength","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/103773-stocks-rally-aud-nzd-to-wilt-on-new-zealand-job-strength\/","title":{"rendered":"Stocks Rally, AUD\/NZD To Wilt On New Zealand Job Strength?"},"content":{"rendered":"<ul>\n<li>Stock markets were bullish along with commodity-linked assets<\/li>\n<li>New Zealand dollar gains after seeing strong growth in local jobs<\/li>\n<li>AUD\/NZD facing significant downward pressure<\/li>\n<\/ul>\n<p>The US market indices had a strong close yesterday, and the cycle-sensitive Australian and Canadian dollars rallied along; the attraction for haven-linked US dollars waned as the hopes for another coronavirus stimulus bill stayed up.<\/p>\n<p>But, if the policymakers are seen to be delaying the bill, including its ratification and implementation, markets can quickly take a risk-off stand. But, the lawmakers are under pressure to deliver as the 2020 election is fast approaching and they will not fancy creating any unfavourable situation.<\/p>\n<h2>New Zealand Posts Good Employment Numbers<\/h2>\n<p>The NZD dollar might extend its earlier rally during the US session as the local jobs data came in much better than expected. The country&#8217;s second-quarter unemployment fell to 4 Percent much less than the 5.6 Percent estimate, with the year-on-year employment surging by 1.2 Percent far beating the -1.2 Percent forecast. The participation rate remained the same at 69.7 Percent, while there was a revision in prior reading to 70.5 Percent.<\/p>\n<p>The currency could also be helped by the buoyancy in Asian trading earlier, and other risk-on currencies and commodities might rise. US dollars and Japanese Yen might be on the backfoot in this market mood. The New Zealand dollar&#8217;s strength could put pressure on AUD\/NZD when it is at a critical level.<\/p>\n<h2>AUD\/NZD To Move Lower<\/h2>\n<p>AUD\/NZD might face resistance from a 5-year descending resistance channel which it couldn&#8217;t break in earlier attempts in late May and early June. A retreat here will put a brake on the early-July uptrend and bears gaining a foothold on the sentiments. The pullback, if fruitful, will have strong support to breakdown at 1.0555 -the bottom of the current uptrend.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Stock markets were bullish along with commodity-linked assets New Zealand dollar gains after seeing strong growth in local jobs AUD\/NZD facing significant downward pressure The US market indices had a strong close yesterday, and the cycle-sensitive Australian and Canadian dollars rallied along; the attraction for haven-linked US dollars waned as the hopes for another coronavirus [&hellip;]<\/p>\n","protected":false},"author":163946612,"featured_media":47011,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1547,1659,1381],"tags":[],"class_list":{"0":"post-102844","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-aud","8":"category-nzd","9":"category-usd"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Stocks Rally, AUD\/NZD To Wilt On New Zealand Job Strength? 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