Forex News
New Zealand’s Unemployment Rate rose to 5.6% in the second quarter (Q2) of 2026 from 5.3% in the first quarter, according to the official data released by Statistics New Zealand on Wednesday. The figure came in above the market consensus of 5.4%.
Furthermore, New Zealand’s Employment Change arrived at 0.5% in Q2, up from 0.2% in Q1, compared with the consensus forecast of 0.2%. The participation rate in New Zealand increased to 70.7% in Q2, compared to 70.4% in the previous reading.
Market reaction to the New Zealand’s employment data
The New Zealand Dollar (NZD) attracts some sellers following the employment data. At the time of writing, the NZD/USD pair is trading 0.18% lower on the day to trade at 0.5884.
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 weakest against the Australian Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.20% | -0.11% | 0.35% | 0.14% | -0.67% | -0.24% | -0.17% | |
| EUR | 0.20% | 0.08% | 0.56% | 0.34% | -0.48% | -0.06% | 0.06% | |
| GBP | 0.11% | -0.08% | 0.49% | 0.26% | -0.55% | -0.12% | -0.02% | |
| JPY | -0.35% | -0.56% | -0.49% | -0.22% | -1.01% | -0.62% | -0.38% | |
| CAD | -0.14% | -0.34% | -0.26% | 0.22% | -0.80% | -0.38% | -0.27% | |
| AUD | 0.67% | 0.48% | 0.55% | 1.01% | 0.80% | 0.42% | 0.53% | |
| NZD | 0.24% | 0.06% | 0.12% | 0.62% | 0.38% | -0.42% | 0.12% | |
| CHF | 0.17% | -0.06% | 0.02% | 0.38% | 0.27% | -0.53% | -0.12% |
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).
Employment FAQs
Labor market conditions are a key element to assess the health of an economy and thus a key driver for currency valuation. High employment, or low unemployment, has positive implications for consumer spending and thus economic growth, boosting the value of the local currency. Moreover, a very tight labor market – a situation in which there is a shortage of workers to fill open positions – can also have implications on inflation levels and thus monetary policy as low labor supply and high demand leads to higher wages.
The pace at which salaries are growing in an economy is key for policymakers. High wage growth means that households have more money to spend, usually leading to price increases in consumer goods. In contrast to more volatile sources of inflation such as energy prices, wage growth is seen as a key component of underlying and persisting inflation as salary increases are unlikely to be undone. Central banks around the world pay close attention to wage growth data when deciding on monetary policy.
The weight that each central bank assigns to labor market conditions depends on its objectives. Some central banks explicitly have mandates related to the labor market beyond controlling inflation levels. The US Federal Reserve (Fed), for example, has the dual mandate of promoting maximum employment and stable prices. Meanwhile, the European Central Bank’s (ECB) sole mandate is to keep inflation under control. Still, and despite whatever mandates they have, labor market conditions are an important factor for policymakers given its significance as a gauge of the health of the economy and their direct relationship to inflation.
- NZD/USD gains around 0.3% and trades near 0.5886, extending its recovery from the weekly lows.
- Softer JOLTS Job Openings and the collapse in Crude Oil prices keep the US Dollar on the defensive.
- Investors turn to the ADP Employment Change and the ISM Services PMI for directional cues.
NZD/USD trades on the front foot near 0.5886 on Wednesday, advancing around 0.3% and building on the rebound that lifted the pair off the 0.5850 area. The New Zealand Dollar (NZD) benefits from a friendlier risk backdrop and a softer US Dollar (USD), with the pair recovering the ground surrendered during the choppy sessions that followed last week's rally.
Sentiment across risk-sensitive currencies improved after reports that an announcement on the reopening of the Strait of Hormuz could arrive imminently. Al Arabiya and Al Hadath, citing high-level sources, indicated that communications are proceeding at full tilt and that progress has been made, although no official confirmation has been issued.
The immediate focus falls on New Zealand's second-quarter labor market report. The Unemployment Rate is forecast to climb to 5.4% from 5.3%, while Employment Change is expected to slow to 0.1% QoQ from 0.2%, a combination that would confirm the gradual loosening underway in the domestic jobs market. The Participation Rate stood at 70.4% in the previous quarter.
The ADP Employment Change is expected to show private hiring slowing to 70K in July from 98K, a print that will shape expectations for Friday's Nonfarm Payrolls. The ISM Services PMI is forecast to tick up to 54.5 from 54, with the Prices Paid component, last at 67.7, likely to attract particular scrutiny given the Fed's focus on services inflation. Fed's Cook is also scheduled to speak. A combination of soft labor data and cooling services prices would undermine the case for further tightening and give NZD/USD room to extend its advance.
Short-term technical analysis:
On the 4-hour chart, NZD/USD trades at 0.5890, holding above both the 20-period Simple Moving Average (SMA) at 0.5876 and the 100-period SMA at 0.5825, which suggests a constructive near-term bullish bias. The Relative Strength Index (RSI) at 65.67 leans toward overbought territory, hinting that upside momentum remains firm but could be vulnerable to bouts of consolidation.
On the topside, immediate resistance is clustered at 0.5895 and 0.5897, ahead of higher barriers at 0.5930 and 0.5965, while a distant technical cap looms near 5,954.00. On the downside, initial support is seen at 0.5882, followed by the 20-period SMA at 0.5876; a deeper pullback would expose the 0.5867 floor before the 100-period SMA at 0.5825 comes into play.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
- USD/CHF slips below trendline as short-term momentum turns bearish.
- 50-day SMA near 0.8042 becomes immediate downside support.
- Bulls need 0.8100 reclaimed to refocus 0.8150 and 0.8200.
The USD/CHF retraced on Tuesday, down 0.16%, as the US Dollar weakened amid improved risk appetite, driven by renewed hopes of a US-Israel peace deal to open the Strait of Hormuz. The pair trades below 0.8100.
USD/CHF Price Forecast: Technical outlook
After falling below a support trendline connecting the lows of June and mid-July, the USD/CHF turned bearish in the short-term, with the next key support seen at the 50-day Simple Moving Average (SMA) at 0.8042. This is further confirmed by the Relative Strength Index (RSI), which turned bearish.
Despite this, the overall market structure remains constructive, having registered a series of successive higher highs and higher lows, indicating that the uptrend remains intact.
For USD/CHF to turn bearish, it needs to clear the 50-day SMA, then the 0.8000 mark. Below is the 100-day SMA at 0.7957, immediately followed by the 200-day SMA at 0.7929. On further weakness, the next stop would be the 0.7900 figure.
To continue bullish momentum, USD/CHF must reclaim 0.8100 and break through 0.8150. Once above, it faces the 0.8200 level, then the yearly high at 0.8207. Beyond that, key resistance points are the psychological thresholds at 0.8250 and 0.8300.
USD/CHF Price Chart – Daily
Swiss Franc Price Today
The table below shows the percentage change of Swiss Franc (CHF) against listed major currencies today. Swiss Franc was the strongest against the Japanese Yen.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.19% | -0.11% | 0.36% | 0.13% | -0.65% | -0.37% | -0.17% | |
| EUR | 0.19% | 0.06% | 0.58% | 0.32% | -0.48% | -0.20% | 0.03% | |
| GBP | 0.11% | -0.06% | 0.51% | 0.26% | -0.53% | -0.26% | -0.03% | |
| JPY | -0.36% | -0.58% | -0.51% | -0.24% | -1.02% | -0.77% | -0.43% | |
| CAD | -0.13% | -0.32% | -0.26% | 0.24% | -0.78% | -0.52% | -0.29% | |
| AUD | 0.65% | 0.48% | 0.53% | 1.02% | 0.78% | 0.26% | 0.49% | |
| NZD | 0.37% | 0.20% | 0.26% | 0.77% | 0.52% | -0.26% | 0.24% | |
| CHF | 0.17% | -0.03% | 0.03% | 0.43% | 0.29% | -0.49% | -0.24% |
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 Swiss Franc from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent CHF (base)/USD (quote).
United Overseas Bank’s (UOB) Quek Ser Leang sees USD/CNH trading slightly higher within a developing range, with intraday levels expected between 6.7500 and 6.7620. On a 1–3 week horizon, the pair could continue to edge lower toward 6.7300 as long as 6.7640 holds as strong resistance. Medium term, a sustained recovery requires a break above the 21-week EMA near 6.8430.
Short-term range, gradual decline toward 6.7300
"24-HOUR VIEW: When USD was at 6.7490 in the early Asian trade yesterday, we highlighted that “the current price movements appear to be part of a range-trading phase between 6.7420 and 6.7540.” However, USD traded in a higher range of 6.7467/6.7592. There has been a slight increase in upward momentum, but instead of a sustained advance, USD is more likely to trade between 6.7500 and 6.7620 today."
"1-3 WEEKS VIEW: Yesterday (03 Aug, spot at 6.7490), we highlighted that while USD edged lower last week, “there has been no clear increase in downward momentum.” However, we were of the view that USD “could continue to edge lower toward 6.7300 as long as 6.7640 (‘strong resistance’ level) is not breached.” Our view remains unchanged. "
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. Know more.)
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