Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


NZ dollar slips before jobs data likely to show tepid growth

NZ dollar slips before jobs report expected to show tepid growth in jobs

Feb. 7 (BusinessDesk) – The New Zealand dollar declined ahead of employment figures for the fourth quarter, which are expected to show tepid growth in jobs and a falling unemployment rate.

The New Zealand dollar fell to 84.18 US cents from 84.45cents in Asia yesterday. The trade-weighted index declined to 76.25 from 76.41.

The Household Labour Force Survey, released later this morning, will show jobs grew 0.4 percent in the fourth quarter after a similar sized decline in the previous three months, according to a Reuters survey. The jobless rate probably fell to 7.1 percent from 7.3 percent. The report follows figures on Tuesday showing only modest wage and labour market growth, giving the central bank no cause to rush to raise interest rates.

“The data is notoriously ‘noisy’,” said Kymberly Martin, a strategist at Bank of New Zealand. “Any positive surprise would likely see the currency re-test recent highs at US$0.8480, though there is strong resistance at this level.”

The kiwi dollar also weakened as US stocks fell and the euro declined against the US dollar ahead of the European Central Bank’s next meeting.

The New Zealand dollar rose to 62.30 euro cents from 62.20 cents. It gained to 81.63 Australian cents from 81.55 cents ahead of employment data across the Tasman today.

The kiwi fell to 78.61 yen from 79.20 yen and gained to 53.72 British pence from 53.93 pence.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Cosmetics & Pollution: Proposal To Ban Microbeads

Cosmetic products containing microbeads will be banned under a proposal announced by the Minister for the Environment today. Marine scientists have been advocating for a ban on the microplastics, which have been found to quickly enter waterways and harm marine life. More>>

ALSO:

NIWA: 2016 New Zealand’s Warmest Year On Record

Annual temperatures were above average (0.51°C to 1.20°C above the annual average) throughout the country, with very few locations observing near average temperatures (within 0.5°C of the annual average) or lower. The year 2016 was the warmest on record for New Zealand, based on NIWA’s seven-station series which begins in 1909. More>>

ALSO:

Farewell 2016: NZ Economy Flies Through 2016's Political Curveballs

Dec. 23 (BusinessDesk) - New Zealand's economy batted away some curly political curveballs of 2016 to end the year on a high note, with its twin planks of a booming construction sector and rampant tourism soon to be joined by a resurgent dairy industry. More>>

ALSO:


NZ Economy: More Growth Than Expected In 3rd Qtr

Dec. 22 (BusinessDesk) - New Zealand's economy grew at a faster pace than expected in the September quarter as a booming construction sector continued to underpin activity, spilling over into related building services, and was bolstered by tourism and transport ... More>>

  • NZ Govt - Solid growth for NZ despite fragile world economy
  • NZ Council of Trade Unions - Government needs to ensure economy raises living standards
  • KiwiRail Goes Deisel: Cans electric trains on partially electrified North Island trunkline

    Dec. 21 (BusinessDesk) – KiwiRail, the state-owned rail and freight operator, said a small fleet of electric trains on New Zealand’s North Island would be phased out over the next two years and replaced with diesel locomotives. More>>

  • KiwiRail - KiwiRail announces fleet decision on North Island line
  • Greens - Ditching electric trains massive step backwards
  • Labour - Bill English turns ‘Think Big’ into ‘Think Backwards’
  • First Union - Train drivers condemn KiwiRail’s return to “dirty diesel”
  • NZ First - KiwiRail Going Backwards for Xmas
  • NIWA: The Year's Top Science Findings

    Since 1972 NIWA has operated a Clean Air Monitoring Station at Baring Head, near Wellington... In June, Baring Head’s carbon dioxide readings officially passed 400 parts per million (ppm), a level last reached more than three million years ago. More>>

    ALSO:

    Get More From Scoop

     
     
     
     
     
     
     
     
    Business
    Search Scoop  
     
     
    Powered by Vodafone
    NZ independent news