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XE Data Update - NZ Q4 Employment Data

The NZ Employment numbers for Q4 have just been released.

They came in somewhat mixed compared with expectations:

NZ Employment data for Q4 was:

- Employment (Q/Q) 0.0% (consensus +0.3%)
- Employment (Y/Y) 1.0% (consensus +1.2%)
- Unemployment Rate 4.0% (consensus 4.2%)
- Participation Rate 70.1% (consensus 70.4%)

In addition, Private Ordinary Time Wages were +0.6% (+0.5% expected)

The fall in Participation Rate helped to push down the unemployment rate.

The NZD jumped higher in immediate response, however it struggled to hold on to the gains as the market digested the entirety of the data.

Link to the Statistic NZ press release:

Current indicative levels are:

NZD-USD 0.6485 / 0.6510
NZD-AUD 0.9625 / 0.9650
NZD-EUR 0.5865 / 0.5890
NZD-GBP 0.4970 / 0.4995
NZD-JPY 71.00 / 71.25


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