FXStreet reported NZD/USD near 0.5620 on Monday, with New Zealand’s next labor-market release due Nov. 4 following a recent split 4-3 central bank rate decision.
Stats NZ last reported seasonally adjusted unemployment at 5.6% for the June quarter. FXStreet cited a 5.5% consensus for the September-quarter reading; that figure is a forecast, not an official Stats NZ estimate.
The Reserve Bank of New Zealand (RBNZ) held its Official Cash Rate at 2.75% Wednesday, Oct. 28. Three of seven committee members favored a 25-basis-point increase to 3.00%. The Monetary Policy Committee said tighter policy could be needed, depending on the economic outlook.
FXStreet’s report placed the pair near 0.5620 during European hours; its technical section used a spot level of 0.5623. Investing.com’s daily record showed a full-session range of 0.5618 to 0.5628.
In FXStreet’s chart assessment, the pair was below a 20-day exponential moving average of 0.5655, while the 14-day relative strength index was around 41. The outlet marked the Oct. 14 low at 0.5564 as support. Investing.com and Twelve Data historical feeds put that session’s low between 0.5565 and 0.5566. FXStreet disclosed that AI assisted in preparing the analysis.
The Institute for Supply Management’s October Manufacturing PMI was scheduled for 10 a.m. EST (15:00 UTC) Monday, ahead of the U.S. midterm elections Tuesday, Nov. 3. ING Global Head of Markets Chris Turner said betting websites gave Democrats a 70%-72% chance of winning both chambers. Turner said, “One could make the case that the dollar should come lower on such an outcome.” Stats NZ’s September-quarter labor-market report is due Wednesday, Nov. 4.
