Employment Data from New Zealand Boosts Kiwi

The New Zealand dollar climbed today, reducing its previous losses, after the report demonstrated positive tendencies in the employment of Canada’s citizens.
Canadian employers added 30,000 jobs in the first quarter of this year, resulting in the employment growth of 1.4 percent, compared to predicted 0.5 percent. In the previous three months the employment shrank by 0.4 percent. The unemployment rate was reduced to 6.6 percent, while it was expected to remain unchanged at 6.7 percent.
The kiwi (nickname of the New Zealand currency) is heading to the daily losses, despite the boost from the employment data. The previous losses today were too big and risk aversion sentiment remains too strong. Optimism, caused by the report, is already fading and the kiwi resumed its downward movement.
NZD/USD fell from 0.7982 to 0.7864 today, but later rebounded and traded at 07913 as of 23:50 GMT. EUR/NZD rose from 1.8561 to 1.8727, while NZD/JPY posted a drop from 64.56 to 63.73.

If you have any questions, comments or opinions regarding the New Zealand Dollar,
feel free to post them using the commentary form below.

Leave a Reply

Your email address will not be published. Required fields are marked *

+ 75 = eighty two