New Zealand Q4 Unemployment Rate dropped below expectations of 5.6% to 4.9%, NZD/USD jumps 30 pips
|As per the fourth quarter (Q4) employment report from the Statistics New Zealand (NZ), the headline Unemployment Rate dropped below 5.6% forecast and 5.3% prior to 4.9% .
Further details suggest the Employment Change rose past-0.0% expected figures and -0.8% previous readings to +0.6%. Additionally, the Labour Cost Index marched 0.5% market consensus versus 0.4% prior on QoQ.
FX implications...
Upbeat data helps RBNZ to stay bullish as New Zealand given a strongest fight to the coronavirus (COVID-19). As a result, NZD/USD jumped from 0.7167 to 0.7196 following the news.
Read: NZD/USD: Bulls attack 0.7200 on strong New Zealand Q4 employment data
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