The New Zealand dollar rallied against its most-traded peers today thanks to amazing jobs data. It allowed the currency to overcome negative fundamentals, which could have weighed on the kiwi otherwise.
The report for September quarter showed that the number of employed people climbed by 2.2% from the previous three months, demonstrating a far bigger increase than predicted 0.8%. The unemployment rate slipped form 4.8% to 4.6%. It was not only below the forecast value of 4.7%, but also the lowest level since 2008. Wage inflation in the private sector was at 0.7%, matching expectations.
NZD/USD rose from 0.6883 to 0.6914 as of 10:10 GMT today. NZD/JPY climbed from 78.20 to 78.81.
If you have any questions, comments or opinions regarding the New Zealand Dollar,
feel free to post them using the commentary form below.