Investing.com – The New Zealand dollar was lower against its U.S. counterpart on Monday, failing to recover losses sustained following Friday’s strong U.S. employment data.
NZD/USD hit 0.7688 during late Asian trade, the daily low; the pair subsequently consolidated at 0.7685, sliding 0.14%.
The pair was likely to find support at 0.764, the low of January 26 and resistance at 0.7746, Friday’s high.
Data on Friday showed that the U.S. economy added significantly fewer than expected jobs in January, but the unemployment rate posted an unexpected drop.
The Department of Labor said that 36,000 jobs were added, far less than the 150,000 forecast and the smallest gain in four months. However, the unemployment rate unexpectedly fell from 9.4% to 9%, the lowest level in two years.
The kiwi was also down against the euro, with EUR/NZD rising 0.23% to hit 1.7691.
Later in the day, the U.S. was to release a government report on consumer credit.
NZD/USD hit 0.7688 during late Asian trade, the daily low; the pair subsequently consolidated at 0.7685, sliding 0.14%.
The pair was likely to find support at 0.764, the low of January 26 and resistance at 0.7746, Friday’s high.
Data on Friday showed that the U.S. economy added significantly fewer than expected jobs in January, but the unemployment rate posted an unexpected drop.
The Department of Labor said that 36,000 jobs were added, far less than the 150,000 forecast and the smallest gain in four months. However, the unemployment rate unexpectedly fell from 9.4% to 9%, the lowest level in two years.
The kiwi was also down against the euro, with EUR/NZD rising 0.23% to hit 1.7691.
Later in the day, the U.S. was to release a government report on consumer credit.