US job openings rose to 7.618 million in April, exceeding forecasts and bolstering USD demand against the NZD.
The NZD/USD pair declined 0.15% to near 0.5930 on Wednesday as the USD strengthened following stronger-than-expected US labor-market data. April’s Job Openings and Labor Turnover Survey (JOLTS) showed job openings surged to 7.618 million, up from a revised 6.887 million in March and above the 6.88 million consensus estimate. The figure marked the highest level since May 2024, reinforcing confidence in US economic resilience.
With no major New Zealand economic releases during the session, the pair’s movement was driven primarily by US labor-market trends, Treasury yields, and broader USD demand. The data contrasted with recent market expectations, which had anticipated a softer print.
Technical analysis indicated NZD/USD remained capped below the 20-period Simple Moving Average at 0.5950, with immediate resistance at 0.5926. Support levels were identified at 0.5922 and 0.5918, with a break risking a test of the 100-period SMA at 0.5896.