NZD/USD struggles to hold above 0.6500 as DXY climbs above 98

Unemployment Rate in New Zealand fell to 4% in fourth quarter.
Broad-based USD strength keeps pair's gains limited on Wednesday.
Coming up: ADP Employment Change and ISM Non-Manufacturing PMI from US.

Eren Sengezer FXStreet

The NZD/USD pair received a boost from the upbeat employment data from New Zealand and easing coronavirus fears on Wednesday and advanced to a daily high of 0.6503 before starting to consolidate its gains ahead of the American session. As of writing, the pair was up 0.1% on the day at 0.6495.

NZD capitalizes on jobs report

The data published by Statistics New Zealand revealed that the Unemployment Rate in the fourth quarter dropped unexpectedly to 4% from 4.2% and helped the kiwi outperform its rivals.

Commenting on the data, "overall, today’s results will be a positive surprise for the Reserve Bank in terms of its two mandates: price stability and supporting maximum sustainable employment," said Westpac analysts. "That will leave next week’s Monetary Policy Statement attempting the strike a balance between a stronger picture of the domestic economy and the rapidly developing risks in the global environment."

On the other hand, the sharp upsurge witnessed in the US Treasury bond yields continues to help the greenback preserve its strength. The 10-year US T-bond yield added nearly 5% on Tuesday and is up 2% on Wednesday, allowing the US Dollar Index to push beyond 98 for the first time since January 29th.

In the second half of the day, ADP Employment Change, ISM Non-Manufacturing PMI and Markit Services PMI data will be featured in the US economic docket.

Technical levels to watch for

NZD/USD

Overview
Today last price	0.6492
Today Daily Change	0.0004
Today Daily Change %	0.06
Today daily open	0.6488

Trends
Daily SMA20	0.6577
Daily SMA50	0.6589
Daily SMA100	0.6469
Daily SMA200	0.6507

Levels
Previous Daily High	0.649
Previous Daily Low	0.6444
Previous Weekly High	0.661
Previous Weekly Low	0.6453
Previous Monthly High	0.6741
Previous Monthly Low	0.6453
Daily Fibonacci 38.2%	0.6472
Daily Fibonacci 61.8%	0.6462
Daily Pivot Point S1	0.6458
Daily Pivot Point S2	0.6428
Daily Pivot Point S3	0.6412
Daily Pivot Point R1	0.6504
Daily Pivot Point R2	0.652
Daily Pivot Point R3	0.655

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

EUR/USD shifts its attention to 1.1900 and above

EUR/USD has shaken off Tuesday’s dip, pushing back beyond the 1.1800 mark amid decent gains as Wednesday’s session draws to a close. The rebound is largely driven by a modest pullback in the US Dollar, as markets digest the aftermath of President Trump’s SOTU speech and continue to monitor trade-related headlines and signals from the White House.

GBP/USD challenges multi-day highs near 1.3530

GBP/USD leaves behind the previous day’s decline and regains fresh upside traction on Wednesday, surpassing the 1.3500 barrier in a context of a modest decline in the Greenback and a generalised improved mood in the risk-linked space. Meanwhile, the US tariff narrative continues to dictate the mood among market participants after Presidet Trump’s SOTU speech failed to surprise markets.

Gold remains bid and close to $5,200

Gold buyers are returning to the fold on Wednesday, targeting the $5,200 area and possibly beyond, after Tuesday’s corrective dip from monthly highs. The rebound in the precious metal comes as the US Dollar loses traction, with Trump’s SOTU speech offering little fresh direction and AI-related nerves continuing to ease.

UK financial watchdog advances stablecoin oversight as four firms pilot issuance

The Financial Conduct Authority (FCA) in the United Kingdom (UK) is advancing toward the final stablecoin regulatory framework with a pilot program involving four companies, including Monee, Financial Technologies ReStabilise, Revolut and VVTX.

Nvidia earnings to influence AI trade and broader market sentiment

For the last three years, Nvidia has been the engine of the AI boom, and now Wall Street is watching to see whether that momentum can keep going. High-growth stocks have been struggling to maintain their bullish trend in 2026.

Cosmos Hub Price Forecast: ATOM rebounds slightly, bearish outlook remains intact

Cosmos Hub (ATOM) price rebounds, trading above $2.05 at the time of writing on Wednesday, after undergoing a sharp correction since last week. Weakening on-chain and derivatives data support a bearish outlook, while technical analysis remains unfavorable.