NZ Employment Misses the Mark
There were high hopes coming in but NZ employment has missed the mark.
Rowan Crosby•Tuesday, April 30, 2019•1 min read
There were high hopes coming in but NZ employment has missed the mark.
The Unemployment rate was 4.2% which beat the expected 4.3%, prior was 4.3%
The Employment change was-0.2% q/q which was a poor miss with the expected at 0.5%, and prior being 0.1%.
This continues to the series of weak numbers led by CPI. This is clearly putting the RBNZ under all sorts of pressure to cut now so we will watch closely and see how this plays out.
The NZD/USD down on the session now and weak. It held up really well yesterday against a backdrop of weak Chinese data and actually had a good business confidence data point. So today is a little disappointing.
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Rowan Crosby
Asia-Pacific Analyst
Rowan Crosby is a professional futures trader from Sydney, Australia. Rowan has extensive experience trading commodities, bonds and equity futures in the Asian, European and US markets. Rowan holds a Bachelor of Finance and Economics degree and is focused heavily on Investment Finance and Quantitative Analysis.
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