The New Zealand labor market showed a rise in the unemployment rate in the fourth-quarter together with a much smaller-than-expected increase in average hourly earnings. This may impact consumer spending as the global economy gears up for the holiday shopping season this month. The NZDUSD remained in its bullish advance, can bulls push higher or will bears attempt to break the up-trend? Subscribe to the PaxForex Daily Fundamental Analysis and grow your balance trade-by-trade.

Yesterday saw mixed data on the US service sector which accounts for over 80% of the US economy and the final reading for the Composite PMI was revised lower and closer to the 50.0 level. The US Dollar was able to strengthen despite this and today’s session is thin on fresh data, but non-farm productivity and labor costs data will be released. How will the NZDUSD react following the release? Today’s fundamental analysis will take a look at the upside potential as well as downside risk in this currency pair.