- ANZ Commodity Price Index declines in June in New Zealand.
- Private sector employment in the U.S. is expected to increase 140K in June.
- US Dollar Index stays quiet near Tuesday’s closing level.
Following Monday’s sharp drop, the NZD/USD pair posted modest recovery gains on Tuesday and now continues to edge higher today. As of writing, the pair was trading at 0.6690, adding 0.28% on a daily basis.
Earlier in the day, the data from New Zealand showed that the ANZ Commodity Price in June declined by 3.9% following May’s 0.1% increase but was largely ignored by the participants.
In the second half of the day, the Markit Services PMI and the ISM Non-Manufacturing PMI from the U.S. will be looked upon for fresh impetus. The upbeat Manufacturing PMI data from the U.S. on Monday helped the greenback gain traction and a similar market reaction could be imminent. At the moment, the US Dollar Index is virtually unchanged on the day at 96.75.
Ahead of this data the ADP private sector employment and weekly jobless claims data will be featured in the U.S. economic docket. Nevertheless, the trading action is likely to turn subdued later in the session as investors are likely to stay on the sidelines ahead of the July 4th holiday.
Technical levels to watch for
Share
