- The NZD / USD is trading in a very tight range on Thursday, like most pairs.
- The US dollar index does not show significant changes and operates below 90.50.
After closing the first two days of the week with profit, NZD / USD lost momentum on Wednesday, retreating from a month-high. The move found support above 0.7700 and climbed to 0.7733. It is trading just below the highs for the day, on a day of limited tours, in part due to the Chinese New Year holiday.
Waiting for Wall Street and employment data
The only data from New Zealand on Thursday showed that e-card retail sales in January declined 0.4% in the month and 1.9% in twelve months. However, these figures were largely ignored by market participants.
On Thursday in the US the Department of Labor will publish its weekly data on requests for unemployment benefits, which is expected to drop to 757,000 from 779,000. In the early hours of the Asian session on Friday, New Zealand’s Business NZ PMI report will be released.
Ahead of the US data, the US dollar index is trading unchanged from Wednesday’s close at the 90.40 zone. Wall Street futures point to a positive open with gains between 0.25% and 0.45%.
Technical levels
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