NZ Dollar Driven Down by Employment Data
The New Zealand dollar fell today, dragged down by underwhelming employment data. The currency was in a retreat for four consecutive sessions versus the euro and for five against the Japanese yen. New Zealand employment dropped 0.2% in the June quarter of this year from the previous three months, whereas analysts had expected a substantial increase by 0.7%. At the same time, the unemployment rate decreased from 4.9% to 4.8%, in line with
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The New Zealand dollar fell today, dragged down by underwhelming employment data. The currency was in a retreat for four consecutive sessions versus the euro and for five against the Japanese yen.
New Zealand employment dropped 0.2% in the June quarter of this year from the previous three months, whereas analysts had expected a substantial increase by 0.7%. At the same time, the unemployment rate decreased from 4.9% to 4.8%, in line with expectations. The Labor Cost Index demonstrated the same 0.4% growth as in the previous quarter, while economists had hoped it would accelerate to 0.5%.
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