NZ dollar gains before US jobs report as charts suggest kiwi was oversold

Thu, 03 May 2018

By Jonathan Underhill May 4 (BusinessDesk) - The New Zealand dollar gained ahead of US jobs data and after charts suggested the kiwi's decline left it oversold. The kiwi dollar rose to 70.40 US cents as at 8am in Wellington from 70.17 cents late yesterday. The trade-weighted index rose to 73.45 from 73.27. The kiwi fell as low as 69.83 UAS cents yesterday and its relative strength index fell to 24 on a scale where a reading below 30 suggests it is oversold. The US dollar index fell from its highest levels since late December ahead of e...

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