When is the New Zealand Q1 employment data and how could it affect NZD/USD? – by anilpanchal7 NewZealand Employment NZDUSD Events RiskAversion
With the Reserve Bank of Australia’s surprise rate lift, as well as robust inflation and hopes of tighter monetary policy from other major central banks, today’s jobs report becomes crucial for the NZD/USD traders, mainly due to the wage prices index data.
That said, the Kiwi pair is likely to mark a kneejerk positive reaction in case the New Zealand job numbers arrive strong, which more is likely considering the tight labor market in Auckland. However, the NZD/USD prices may not remain firmer for long unless the data is extremely positive, mainly due to the current risk-off mood. Furthermore, the doubts about the hawkish mood of the Reserve Bank of New Zealand could please sellers in case the data disappoints.
On the other hand, employment change is a measure of the change in the number of employed people in New Zealand. Generally speaking, a rise in this indicator has positive implications for consumer spending which stimulates economic growth. A high reading is seen as positive for the NZ dollar, while a low reading is seen as negative .Information on these pages contains forward-looking statements that involve risks and uncertainties.
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