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Forex - Kiwi weaker after jobs data, Australia retail sales, trade ahead

Published 11/03/2015, 05:43 PM
Updated 11/03/2015, 05:47 PM
Kiwi weaker after jobs data
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Investing.com - The Kiwi fell on Tuesday after jobs data disappointed with Australia data ahead on retail sales and trade that will be closely watched.

NZD/USD traded at 0.6654, down 0.15%, while AUD/USD changed hands at 0.7179, down 0.08%.

In New Zealand, employment fell 0.4% in the third quarter, below the 0.4% gain seen and labor costs rose 0.4%, les than the 0.5% gain expected with the unemployment rate up to 6.0% from 5.9%.

In Australia, the October AIG Services Index fell 3.3 points to 48.9. Ahead in Australia comes trade and retail sales. In China, the Ciaxin services PMI for October is due.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.01% at 97.26.

Overnight, the dollar held gains against the other major currencies on Tuesday, despite the release of downbeat U.S. factory orders as investors began to focus on this week's nonfarm payrolls report.

The U.S. Census Bureau said factory orders dropped 1.0% in September, worse than forecasts for a fall of 0.9%. Factory orders decreased 2.1% in August, whose figure was revised from a previously reported decline of 1.7%.

Investors were turning their attention to Friday's U.S. nonfarm payrolls report for indications on the likelihood of a December rate hike.

The Federal Reserve left rates on hold last week but indicated that it could still raise interest rates for the first time since 2006 at its December meeting.

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