NZD/USD has popped to print some 0.5% higher on the day following recent data.
The New Zealand jobs data has arrived as folllows:
The Unemployment Rate (Q1): 4.7% (est 4.9%, prev 4.9%); NZ Employment Change (YoY) Q1: 0.3% (est -0.1%, prev 0.7%)%); NZ Employment Change (YoY) Q1: 0.3% (est -0.1%, prev 0.7%); - NZ Participation Rate (Q1): 70.4% (est 70.3%, prev 70.2%).
Description of the Unemployment Rate
The Unemployment Rate released by the Statistics New Zealand is the number of unemployed workers divided by the total civilian labor force.
If the rate is up, it indicates a lack of expansion within the New Zealand labor market.
As a result, a rise leads to weaken the New Zealand economy.
A decrease of the figure is seen as positive (or bullish) for the NZD, while an increase is seen as negative (or bearish).
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