Sunday , 24 November 2024
Home Forex New Zealand data: Unemployment rate 4.3% (vs. 4.2% expected, 4.0% prior)
Forex

New Zealand data: Unemployment rate 4.3% (vs. 4.2% expected, 4.0% prior)

Employment down and unemployment up. Wage costs steady.

New Zealand’s economy is struggling with sustained high interest rates, and inflation still remains sticky high. As long as inflation stays high there will be no rate respite from the RBNZ. Indeed, the banks warned on this just hours ago:

The details of the report show that average hourly wages rose by 0.3%

  • prior +0.5%

NZD/USD is not a lot changed, down a few tics after the data. Its slumped overnight, driven by a surging US dollar (same old).

This article was written by Eamonn Sheridan at www.forexlive.com.

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Articles

New Zealand Q3 retail sales -0.1% q/q (expected -0.5%)

Retail sales in the third quarter in New Zealand were expected to...

Weekend – Trump nominated Scott Bessent to serve as Treasury Department secretary

Bessent and ex-Fed Warsh were two front runners, Bessent has been given...

Reserve Bank of New Zealand (RBNZ) Shadow Board recommend a 50bp cash rate cut this week

The Reserve Bank of New Zealand meet this week, with a 50bp...

Economic calendar in Asia Monday, November 25, 2024

New Zealand retail sales data for Q3 is the highlight. Retail spending...