Sadly, the NZ dollar reported itself with the loss value against the US dollar on the first day of the trading week. The condition of the NZDUSD is not satisfactory since the start of the month, as it continues in the state of instability, where if it raises one day then we saw it fall on the next day.

US several favorable updates are regarded as the explanation for this recent volatility, here below we enlist a few of the updates;

First is the average hourly earnings showing continuity of 4.7 percent with last month’s index. It is an important predictor of labor cost inflation, and labor market tightness. When setting interest rates, the Federal Reserve Board pays careful attention to these.

Secondly, the decrease in unemployment, which was projected to be 17% but was updated with 14% on September 04, 2020. It is a statistic that increases from the division of the number of unemployed by the total civilian population. It reflects the percentage of people actively seeking jobs and willing to work, thus suggesting their low reading against the bullish market.

And the other important news is Non-Farm productivity, which raises its value from 7.3% to 10.1% compared to the index of the last month. This shows the worked output per Hour of Work. Non-farm Productivity is an indication of the overall health of businesses in the US, which has an influence on GDP.

According to the attached graph, NZDUSD is quoted at the price of 0.6696 and has the support levels behind its price, a hope, which might take the pair’s price away from the downsizing stage.

Conclusion

As the last upside of the price action showed a higher high wave, so the technical bias could stay bullish for a while, this trend is encouraging buyers and sellers to get the investment opportunity.