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June 01, 2023NZD/USD posts light gains on a low-volatility day, ranging between 0.5988 – 0.6078 and is now at 0.6069.
New United States Crude Oil Inventories improved upon the previous -12.46 million figure while also exceeding analyst expectations with a reading of 4.49 million.
Nevertheless, data for United States Crude Oil Inventories published today at 15:00 UTC came out at 4.49 million, beating projections of -1.10 million and showing improvement over the preceding figure of -12.46 million. Highly important Initial Jobless Claims data from United States beat analyst expectations of 235,000 with a reading of 232,000.
At the same time, United States ISM Manufacturing PMI (May) released today at 14:00 UTC with a figure of 46.9, while the previous figure was 47.1.
Other currencies are also rising as AUD/USD is up 1.15%. GBP/USD soars 0.71% to trade around 1.2527.
At the same time, USD/CAD is down to 1.3444, losing 126 pips, after closing at 1.3571 in the preceding trading session.
Positive indicators for the Kiwi are expected going forward as tomorrow at 12:30 UTC data for United States Non Farm Payrolls will be released, with an expected decline to 180,000 from the preceding figure of 253,000. United States Average Hourly Earnings expected to decline to 0.4% while its preceding data was 0.5%, data will be available tomorrow at 12:30 UTC. Tomorrow at 12:30 UTC data for United States Unemployment Rate will be released, with an expected decline to 3.5 from the preceding figure of 3.4.
This year has been a gloomy one for the New-Zealand Dollar after trading as high as 0.6556 and going on to lose 4.91% of its value.
