After four consecutive days of gains, the New-Zealand Dollar is down 31 pips today

NZD/USD is grinding lower from 0.6319 to 0.6288, shedding 31 pips (0.49%) today.

Initial Jobless Claims data from United States will be released today at 12:30 UTC with analysts expecting a decline to 200,000. Potentially significant price fluctuations in the Kiwi are expected to follow.

Nonetheless, encouraging indicators for the Kiwi published earlier when United States Crude Oil Inventories released earlier showed a marked improvement to -3.74 million from the preceding data of -7.49 million, but fell short of the -2.33 million figure forecast by a consensus of market analysts.

Amid the market gloom, New Zealand Interest Rate came out at 5.25, while a consensus of analysts was expecting five. United States ISM Non-Manufacturing PMI (Mar) released yesterday at 14:00 UTC with a figure of 51.2, while the previous figure was 55.1.

Though the New-Zealand Dollar has been dropping, other pairs have been performing better: having closed the previous session at 1.9714, GBP/NZD is up 0.44% today to currently trade at around 1.98. EUR/NZD rises 0.4% to trade around 1.733. USD/SGD climbs 0.15% to trade around 1.3295.

Moreover, projections for United States Non Farm Payrolls are set for a continuation of decline with 240,000 while previous data was 311,000; data will be released tomorrow at 12:30 UTC. Today at 12:30 UTC data for United States Initial Jobless Claims will be released, with an expected decline to 200,000 from the preceding figure of 198,000.

Furthermore, United States Unemployment Rate is expected tomorrow at 12:30 UTC.

The New-Zealand Dollar is now trading 13.53% away from its significant low of 0.5566 first tested 5 months ago.