New Zealand Unemployment Rate in line with expecations Q3, 5.3% vs prev 4.0%

Ross J Burland FXStreet

NZ Unemployment Rate Q3: 5.3% (est 5.3%; prev 4.0%). The kiwi is pressured by a handful of pips.

Key notes

Average hourly earnings1.4% (est 0.3%; prev 0.4%).

Employment change QoQ -0.8% (est -0.7%; prevr -0.3%).

Employment change YoY Q3: 0.2% (est 0.2%; prevr 1.5%).

Participation rate Q3 was 70.1% (est 70.0%; prevr 69.9%).

The Unemployment rate for Q3 was 5.3% (est 5.3%; prev 4.0%).

Kiwi update

Meanwhile, the bird sits at 0.6697 and trades heavily around the 0.67 level.

However, there is still scope to the upside so long as 0.6680 remains intact.

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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