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May 04, 2023The Kiwi trades at 0.6266 after gaining 35 pips (0.57%).
United States Initial Jobless Claims data will be released today at 12:30 UTC, with an expected decline to 240,000.
The New-Zealand Dollar upside coincides with further encouraging market factors as highly important Crude Oil Inventories data from United States beat analyst expectations of -1.1 million with a reading of -1.28 million.
Meanwhile, New Zealand Building Consents (MoM) (Mar) came out at seven, while a consensus of analysts was expecting -0.3. United States Interest Rate released yesterday at 18:00 UTC with a figure of 5.25, while the previous figure was five.
A look at other currencies also shows bullish price action as USD/CHF gained 0.24% and is currently trading at 0.8861.
Meanwhile, after ending yesterday's session at 1.7762, EUR/NZD lost 116 pips and is trading around 1.7646. GBP/NZD drops 0.55% to trade around 2.0059.
Positive indicators for the New-Zealand Dollar are expected going forward as United States Non Farm Payrolls expected to decline to 180,000 while its preceding data was 236,000, data will be available tomorrow at 12:30 UTC. Projections for United States Initial Jobless Claims are set for a continuation of decline with 240,000 while previous data was 230,000; data will be released today at 12:30 UTC. Tomorrow at 12:30 UTC data for United States Unemployment Rate will be released, with an expected decline to 3.6 from the preceding figure of 3.5.
Having set a significant low of 0.5566 6 months ago, the Kiwi is trading 11.93% higher.
