Global Currency Movements NZDUSD Bullish Momentum, USDCAD Retreats, and AUD Strengthens on Employment Data
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GLOBAL CURRENCY MOVEMENTS: NZD/USD BULLISH MOMENTUM, USD/CAD RETREATS, AND AUD STRENGTHENS ON EMPLOYMENT DATA NZD/USD Holds Strong Above 9-Day EMA Near 0.6200, Signaling Bullish Momentum The NZD/USD pair remains steady around 0.6210 during Thursday s Asian session, consolidating ascending channel pattern on the daily chart, which points to a bullish outlook. within an The 14-day Relative Strength Index (RSI) stays above 50, reinforcing the upward trend. Additionally, with the 9-day Exponential Moving Average (EMA) above the 50-day EMA, short-term momentum suggests the pair may continue to rise. However, a break below the channel's lower boundary could weaken the bullish sentiment.
USD/CAD Retreats from One-Month High, Dips to 1.3600 Amid Renewed USD Weakness The USD/CAD pair pulls back from its one-month peak of 1.3645-1.3650, sliding to around Thursday s session. After rebounding from a two-week low, the pair faces selling pressure as the US Dollar loses momentum amid a positive market mood. Additionally, rising crude oil prices boost the commodity-linked Canadian Dollar weighing on the pair. Despite the pullback of around 50 pips, the absence of strong follow-through selling suggests caution for traders expecting further movement. 1.3600 during (Loonie), further downside Australian Dollar Gains as August Employment Figures Boost Market Confidence The Australian Dollar (AUD) strengthened against the US Dollar (USD) after Australia's labor market report showed employment growth exceeding expectations in August. Employment rose forecasts of 25.0K, though slightly down from July s 58.2K. by 47.5K, beating Read more about us- The Unemployment Rate held steady at 4.2%, matching predictions. Meanwhile, the Federal Reserve's 50 basis point rate cut earlier this week supported a favorable risk sentiment. Fed Chair expressed optimism about balancing a strong labor market and economic stability while lowering inflation to 2%. Website- www.jaiinfoway.com Contact Number- +1 (786) 786-7229 Jerome Powell Linkedin- Jaiinfoway Email- info@jaiinfoway.com
