NZ Dollar Jumps as Employers Add Jobs & Unemployment Falls

The New Zealand dollar climbed today after country’s employers added more jobs than was expected. Moreover, the unemployment rate demonstrated huge (and unexpected) drop.
New Zealand employment grew 1.7 percent in the first quarter of 2013 from the previous three months, when it fell 0.9 percent. The median forecast was at 1.1 percent. Unemployment fell from 6.8 percent to 6.2 percent even as analysts have expected it to stay the same. Previously, the New Zealand currency was falling on signs of an intervention from the Reserve Bank of New Zealand.
NZD/USD jumped from 0.8398 to 0.8457 and NZD/JPY advanced from 83.12 to 83.50 as of 10:46 GMT today.

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Your email address will not be published.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 *

sixty − = fifty one