NZ Dollar Soars As Falling Jobless Rate Bolsters Rate Hike Bets
04 Agosto 2021 - 5:35AM
RTTF2
The NZ dollar appreciated against its major counterparts in the
Asian session on Wednesday, as the nation's jobless rate fell more
than forecast in the second quarter, intensifying expectations for
a rate hike by the Reserve Bank of New Zealand this month.
Data from Statistics New Zealand showed that the unemployment
rate came in at a seasonally adjusted 4.0 percent in the second
quarter.
That beat expectations for a rate of 4.5 percent and was down
from 4.7 percent in the previous three months.
Employment was up 1.0 percent on quarter in Q2, surpassing
expectations for an increase of 0.7 percent and accelerating from
0.6 percent in the three months prior.
The participation rate was 70.5 percent, shy of expectations for
70.6 percent but up from 70.4 percent in the first quarter.
Asian markets were mostly higher as concerns over China's latest
technology clampdown reduced.
The kiwi spiked up to near a 3-week high of 1.6799 against the
euro and a fresh 4-week high of 0.7073 against the greenback, off
its early lows of 1.6903 and 0.7011, respectively. The kiwi is
likely to face resistance near 1.62 against the euro and 0.72
against the greenback.
The kiwi reversed from its prior lows of 76.46 against the yen
and 1.0536 against the aussie, rising to an 8-day high of 77.15 and
more than an 8-month high of 1.0477, respectively. Next key
resistance for the kiwi is likely seen around 80.00 against the yen
and 1.03 against the aussie.
Looking ahead, PMI reports from major European economies and
Eurozone retail sales for June are due in the European session.
U.S. ADP private payrolls data for July is scheduled for release
at 8:15 am ET.
Canada building permits for June and U.S. ISM non-manufacturing
PMI for July will be featured in the New York session.
Grafico Cross NZD vs Yen (FX:NZDJPY)
Da Giu 2024 a Lug 2024
Grafico Cross NZD vs Yen (FX:NZDJPY)
Da Lug 2023 a Lug 2024