{"id":209759,"date":"2023-12-10T05:55:13","date_gmt":"2023-12-10T00:25:13","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=209759"},"modified":"2023-12-10T05:55:13","modified_gmt":"2023-12-10T00:25:13","slug":"nzd-usd-drops-amidst-solid-us-nfp-report-set-to-end-week-with-losses-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/nzd-usd-drops-amidst-solid-us-nfp-report-set-to-end-week-with-losses-crypto-news\/","title":{"rendered":"NZD\/USD drops amidst solid US NFP report, set to end week with losses &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div id=\"fxs_article_content\">\n<p>\n                        <span class=\"fxs_socialmedia_bar_share_label\">Share:<\/span><\/p>\n<ul>\n<li><strong>NZD\/USD tumbles more than 0.70%, trading at 0.6124, erasing gains from Thursday&#8217;s session.<\/strong><\/li>\n<li><strong>US jobs data was better than expected, spurring a dip in the unemployment rate.<\/strong><\/li>\n<li><strong>University of Michigan Consumer Sentiment Index rises to 69.0, its highest level since August, with revised lower inflation expectations.<\/strong><\/li>\n<\/ul>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/currencies\/nzdusd\">NZD\/USD<\/a> is dropping and erased Thursday\u2019s gains on Friday after US economic data sent traders scrambling to pare dovish bets on the US Federal Reserve as November\u2019s Nonfarm Payrolls exceeded estimates. That shows the economy\u2019s resilience; hence, the pair tumbles more than 0.70% and trades at 0.6124.<\/p>\n<h2 class=\"fxs_headline_medium\">NZD\/USD finished the week down, traders eye next week\u2019s FOMC meeting<\/h2>\n<p>As previously mentioned, the US Department of Labor released November\u2019s Nonfarm Payrolls report, which depicted the labor market is in better shape than previously released data in the week. The economy added 199,000 jobs, more than the 150,000 in October, and exceeded forecasts of 180,000. As a consequence, the unemployment rate dipped from 3.9% to 3.7%, and Average hourly earnings stood at 4% during the last 12 months to date, suggesting a wage-price spiral is out of discussion.<\/p>\n<p>Following the data release, the NZD\/USD seesawed on a wide range and dived to its low of the day at 0.6103 before recovering some ground. Nevertheless, the damage is done, with the pair set to finish the week with losses.<\/p>\n<p>Besides that, the University of Michigan (UoM) revealed its latest consumer poll, which showed American households are more optimistic regarding the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/rates-charts\/forecast\">economic outlook<\/a>, as the Consumer Sentiment Index rose by 69.0, its highest level since August, while inflation expectations were revised lower.<\/p>\n<p>The US <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/currencies\/us-dollar-index\">Dollar Index<\/a> (DXY), which tracks the buck\u2019s performance against six rivals, rose by 0.30%, at 104.01, underpinned by a jump in US yields. The US 10-year bond yield climbed 8 basis points and is set to finish the week at 4.236%.<\/p>\n<p>In the meantime in New Zealand, next week\u2019s economic docket will feature the Current Account alongside the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/economic-calendar\/united-states\">Gross Domestic Product<\/a> (GDP) figures for the third quarter. Estimates lie at 0.2%, less than the previous quarter&#8217;s growth of 0.9%. On the US front, Traders focus on the following week&#8217;s US inflation report and the Federal Open Market Committee (FOMC) meeting.<\/p>\n<h2 class=\"fxs_headline_medium\">NZD\/USD Technical Levels<\/h2>\n<p>\u00a0<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Share: NZD\/USD tumbles more than 0.70%, trading at 0.6124, erasing gains from Thursday&#8217;s session. US jobs data was better than expected, spurring a dip in the unemployment rate. University of Michigan Consumer Sentiment Index rises to 69.0, its highest level since August, with revised lower inflation expectations. NZD\/USD is dropping and erased Thursday\u2019s gains on [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":13070,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,276,2321,255,250,715,252,247,253,249,256,254],"class_list":["post-209759","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-currencies","tag-fundamental-analysis","tag-gta","tag-looks-rare","tag-nzdusd","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/209759","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=209759"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/209759\/revisions"}],"predecessor-version":[{"id":209760,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/209759\/revisions\/209760"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/13070"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=209759"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=209759"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=209759"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}