NZD/USD gains on softer US ADP data, China trade balance in focus

NZD/USD trades slightly higher after weaker-than-expected US ADP employment data.
Markets remain calm as attention shifts to US services sector indicators.
Investors also turn their focus to China’s December Trade Balance, a key driver for the New Zealand economy.

Ghiles Guezout FXStreet

NZD/USD trades around 0.5790 on Wednesday at the time of writing, up 0.10% on the day, supported by a mix of macroeconomic factors despite a mixed flow of news from the United States (US). The New Zealand Dollar (NZD) maintains a mildly positive bias as the US Dollar (USD) shows limited reaction to softer-than-expected private employment data.

This week, investors’ attention is focused on the release of China’s Trade Balance for December, due on Thursday. This indicator is particularly important for the New Zealand Dollar, given the strong dependence of New Zealand’s economy on exports to Beijing. An improvement in China’s external trade could reinforce expectations of demand for New Zealand commodities and agricultural products, offering additional support to the Kiwi.

On the US side, the Automatic Data Processing (ADP) Research Institute reports that private sector employment increased by 41,000 jobs in December, following a revised decline of 29,000 in November. The figure comes in slightly below market expectations of 47,000.

According to ADP Chief Economist Nela Richardson, small businesses recovered from previous job losses at year-end, while larger firms scaled back hiring. This report limits support for the US Dollar, without triggering any significant moves in the foreign exchange market.

Meanwhile, investors remain attentive to upcoming US data releases. The ISM Services Purchasing Managers Index (PMI) for December is expected to edge lower to 52.3 from 52.6 in November, a level still consistent with solid expansion in activity. In addition, the Bureau of Labor Statistics is set to publish the JOLTS Job Openings data for November, which are expected to ease slightly to 7.6 million from 7.67 million previously. These indicators should help refine expectations regarding the future path of Federal Reserve (Fed) monetary policy.

In this context, NZD/USD continues to trade mainly on expectations related to China’s economic outlook and overall risk sentiment, while recent US data have not been sufficient to provide clear momentum for the US Dollar.

New Zealand Dollar Price Today

The table below shows the percentage change of New Zealand Dollar (NZD) against listed major currencies today. New Zealand Dollar was the strongest against the British Pound.

	USD	EUR	GBP	JPY	CAD	AUD	NZD	CHF
USD		-0.05%	0.03%	-0.09%	-0.08%	-0.09%	-0.11%	-0.02%
EUR	0.05%		0.08%	-0.04%	-0.03%	-0.03%	-0.06%	0.03%
GBP	-0.03%	-0.08%		-0.13%	-0.11%	-0.12%	-0.15%	-0.06%
JPY	0.09%	0.04%	0.13%		0.01%	0.00%	-0.03%	0.07%
CAD	0.08%	0.03%	0.11%	-0.01%		-0.00%	-0.04%	0.05%
AUD	0.09%	0.03%	0.12%	-0.01%	0.00%		-0.03%	0.06%
NZD	0.11%	0.06%	0.15%	0.03%	0.04%	0.03%		0.09%
CHF	0.02%	-0.03%	0.06%	-0.07%	-0.05%	-0.06%	-0.09%

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the New Zealand Dollar from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent NZD (base)/USD (quote).

Author

Ghiles Guezout

FXStreet

Ghiles Guezout is a Market Analyst with a strong background in stock market investments, trading, and cryptocurrencies. He combines fundamental and technical analysis skills to identify market opportunities.

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