Unemployment Rate (NZD) comes in at 5.6% against 5.4% consensus
| Pair | Now | Since publish |
|---|---|---|
| NZDUSD | — | — |
The New Zealand Unemployment Rate was reported at 5.6%. This figure came in above the consensus expectation of 5.4%. The previous quarter’s rate was 5.3%. The actual print represented a 3.7% surprise compared to the consensus forecast.
Following the release, the New Zealand Dollar saw varied movements against major currencies. AUDNZD traded up 15 pips 15 minutes after the release. EURNZD was up 23 pips, and GBPNZD was up 26 pips over the same period. NZDCAD moved down 9.1 pips, NZDCHF was up 5.2 pips, NZDJPY was down 9.9 pips, and NZDUSD was down 6.0 pips. These initial moves are generally smaller than the median 1-hour moves observed after past releases. For example, the median 1-hour move for AUDNZD has been 16 pips, for EURNZD 33 pips, and for NZDUSD 15 pips.