NZ FM: Expects latest unemployment rate data this week to “bounce around a bit”

Ross J Burland FXStreet

Reuters has reported that New Zealand's debt level is projected to reduce from the middle of the decade as the country's economy recovers from the impact of the coronavirus, the finance minister said in a pre-budget speech on Tuesday.

"'The levels of debt that we have taken on to save New Zealanders’ lives and livelihoods are projected to reduce from the middle of the decade. We are in a good position to handle the debt we have taken on' the minister, Grant Robertson, said in the speech to the Wellington Chamber of Commerce.''

''The budget, which will be unveiled on May 20, will reprioritise NZ$926 million ($667 million) of funds that were previously allocated to responding to COVID-19, he said.''

NZD/USD holds the bid

Meanwhile, this has not impacted the bird in late North American trade today but the US dollar is under pressure.

NZD/USd is up some 0.64% on the day having travelled from a low of 0.7155 to a high of 0.7212.

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Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

EUR/USD trims gains, back below 1.1800

EUR/USD now loses some upside momentum, returning to the area below the 1.1800 support as the Greenback manages to regain some composure following the SCOTUS-led pullback earlier in the session.

GBP/USD off highs, recedes to the sub-1.3500 area

Following earlier highs north of 1.3500 the figure, GBP/USD now faces some renewed downside pressure, revisiting the 1.3490 zone as the US Dollar manages to regain some upside impulse in the latter part of the NA session on Friday.

Gold climbs to weekly tops, approaches $5,100/oz

Gold keeps the bid tone well in place at the end of the week, now hitting fresh weekly highs and retargeting the key $5,100 mark per troy ounce. The move higher in the yellow metal comes in response to ongoing geopolitical tensions in the Middle East and modest losses in the US Dollar.