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June 03, 2023A quick look at yesterday: bearish sentiment ensured NZD/USD finished yesterday's session lower. However, despite the downward bias, the New-Zealand Dollar etched out a distinct 0.6058 to 0.6112 session range.
United States Non Farm Payrolls beat the 180,000 projections, with 339,000.
In contrast, positive data for the New-Zealand Dollar reported earlier when data from United States concerning Average Hourly Earnings was released yesterday at 12:30 UTC. Newly published figures emphasized continued decline from last month's figure of 0.4% to 0.3% this month. United States Unemployment Rate published yesterday at 12:30 UTC came out at 3.7, falling short of the 3.5 projections and continuing its decline from the previous 3.4 figure.
The Kiwi's value drop coincided with the fact that EUR/AUD lost 1% yesterday and closed at 1.637. GBP/CAD lost 0.78% yesterday and closed at 1.6841.
Though the New-Zealand Dollar has been dropping, other pairs have been performing better: notably, USD/JPY rose 0.84% yesterday and closed at 138.8.
The Kiwi is now trading 9.04% away from its significant low of 0.5566 first tested 7 months ago.
