New Zealand Employment Change comes in at -0.1% against 0.4% consensus
| Pair | Now | Since publish |
|---|---|---|
| NZDUSD | — | — |
New Zealand Employment Change q/q came in at -0.1%, against a consensus of 0.4% and a previous reading of 0.5%. The result is a contraction in the quarter, where a gain was expected, and it is a reversal from the prior quarter’s growth. No surprise figure is available for this release.
The NZD weakened across the board in our price feed. NZDUSD was down 22 pips after 5 minutes, 26 pips after 15 minutes and 28 pips after 1 hour. The one-hour move sits at the top-quarter threshold of 28+ pips, against a median of 15 pips. NZDJPY fell 46 pips after 1 hour (median 19, top-quarter 29+), NZDCAD fell 53 pips (median 17, top-quarter 30+) and NZDCHF fell 20 pips (median 11, top-quarter 24+), so NZDCHF is above its median but below the top-quarter mark.
The NZD crosses moved higher. AUDNZD rose 62 pips after 1 hour (median 17, top-quarter 37+), EURNZD rose 83 pips (median 34, top-quarter 65+) and GBPNZD rose 99 pips (median 37, top-quarter 75+). EURNZD and GBPNZD peaked at the 15-minute mark, at +89 and +105 pips, then eased slightly. Direction reliability on NZDUSD stands at 67% in the live sample. Apart from NZDCHF, every pair moved by more than its top-quarter threshold or came close to it within the hour.