FXstreet.com (Barcelona) - The Kiwi has been hit thru major sell orders in Asia after an awful jobs report in New Zealand, where the unemployment rate increased to 6.8% in Q2 vs 6.4% expected. Job growth in Q2 printed -0.1% vs +0.3 expected.
"Employment growth slowed in the year to June 2012, with 2,000 fewer people in work in the June quarter," industry and labour statistics manager Diane Ramsay said.
According to NZ Herald: "There were 5,000 fewer men in employment in the June 2012 quarter, while 3,000 more women were employed. The overall fall in employment, combined with a growing working-age population, resulted in a decrease in the employment rate of 0.3 percentage points, falling to 63.8 per cent."
Since the deviation between actual vs expectations is large enough, expect the NZD to remain pressured across the board.
On the sharp move lower, the NZD/USD has marginally broken yesterday's low at 0.8117, opening the doors for further downside towards 0.8100 round number ahead of 0.8070 (July 5 high and 38.2% Fib of 0.7808/0.8224).
"Employment growth slowed in the year to June 2012, with 2,000 fewer people in work in the June quarter," industry and labour statistics manager Diane Ramsay said.
According to NZ Herald: "There were 5,000 fewer men in employment in the June 2012 quarter, while 3,000 more women were employed. The overall fall in employment, combined with a growing working-age population, resulted in a decrease in the employment rate of 0.3 percentage points, falling to 63.8 per cent."
Since the deviation between actual vs expectations is large enough, expect the NZD to remain pressured across the board.
On the sharp move lower, the NZD/USD has marginally broken yesterday's low at 0.8117, opening the doors for further downside towards 0.8100 round number ahead of 0.8070 (July 5 high and 38.2% Fib of 0.7808/0.8224).
