NZDUSD on Friday dropped -0.14% to 0.59380. Week ending 2024-04-26 rose 0.88%. What happened.

NZDUSD Analysis

Week Ending 2024-04-26

Open

High

Low

Close

0.59

0.60

0.59

Performance

Period

Pct

Chg

Momentum

Friday

-0.14%

-8.6 Pips

Week 2024-04-26

0.88%

52 Pips

April

-0.65%

-39 Pips

Upcoming key events for the new week (London Time)

Tue 11:45 PM Employment Change
Wed 07:00 PM Fed Interest Rate Decision (Federal Funds Rate)
Thu 01:30 PM Initial Unemployment Insurance Claims
Fri 01:30 PM Average Hourly Earnings (1-mth)
Fri 01:30 PM Average Hourly Earnings (12-mth)
Fri 01:30 PM Nonfarm Payroll Employment

What happened over the week

🇺🇸 U.S. Michigan Index of Consumer Sentiment in April dropped to 77.2 points compared to previous figure 77.9 points in March Source: University of Michigan
🇺🇸 U.S. Personal Spending in March unchanged at 0.8% compared to previous report in February. Source: Bureau of Economic Analysis
🇺🇸 U.S. Personal Consumption Expenditures – Price Index (12-mth) in March rose to 2.7% compared to previous figure 2.5% in February
🇺🇸 U.S. Core Personal Consumption Expenditures (3-mth) in Q1 flash estimate rose to 3.7% compared to previous figure 2% in Q4 Source: Bureau of Economic Analysis
🇺🇸 U.S. GDP Annualized in Q1 flash estimate dropped to 1.6% compared to previous figure 3.4% in Q4 Source: Bureau of Economic Analysis
🇺🇸 In the week ending 20 April, U.S. Initial Unemployment Insurance Claims dropped to 207K compared to previous figure 212K Source: Department of Labor
🇺🇸 U.S. Durable Goods Orders in March rose to 1.4% compared to previous figure 0.7% (revised from 1.4%) Source: Census Bureau
🇺🇸 U.S. Nondefense Capital Goods Orders excluding Aircraft in March dropped to 0.2% compared to previous figure 0.4% (revised from 0.7%) Source: Census Bureau
🇳🇿 New Zealand Exports in March rose to 6.5$ compared to previous figure 5.79, revised from 5.89$ in February Source: Stats NZ
🇳🇿 New Zealand Imports in March dropped to 5.91$ compared to previous figure 6.1, revised from 6.11$ in February Source: Stats NZ
🇳🇿 New Zealand Trade Balance NZD (12-mth) in March improved to -9.87$ compared to previous figure -12.06, revised from -11.99$ in February Source: Stats NZ

From X (Twitter)

🇳🇿 New Zealand Trade Balance NZD (12-mth) in March improved to -9.87$ compared to previous figure -12.06, revised from -11.99$ in Februaryhttps://t.co/ybr6dzFyzS

— Market Recap Today (@forexforum) April 28, 2024

What can we expect from NZDUSD for the new week and what happened on Friday?

NZDUSD on Friday dropped -0.14% to 0.59. Price is above 9-Day EMA while Stochastic is falling. For the week ending 2024-04-26, the pair rose 0.88% or 52 pips higher.

Looking ahead, NZDUSD looks mixed as the pair is likely to consolidate above week low of 0.59.

For the new week, our technical outlook is mixed. To see upside interest, we prefer to look at price breakout of week high of 0.60 or at least consolidates above Weekly Pivot level of 0.59. On the downside, we are looking at week low 0.59 or 0.59 (WS1) as immediate support level. NZDUSD need to break on either side to indicate a short-term bias. A break above 0.60 would suggest bullish bias after recent positive movement.

For the month of April, NZDUSD is down by -0.65% or -39 pips lower.