Breaking: NZD/USD plummets to 0.6770 as unemployment rises to 4.3% (4.1% expected) in New Zealand
|
The data published by the Statistics New Zealand revealed that the unemployment rate in the fourth quarter of 2018 rose to 4.3% from 4% (revised from 3.9%) recorded in the previous quarter and fell short of the market expectation of 4.1%. Underlying details of the report revealed that the participation rate in the same period edged down to 70.9% from 71.1% and the labour cost index stayed unchanged on a quarterly basis to miss the analysts' estimate of 0.6%.
With the initial market reaction, the NZD/USD pair lost more than 50 pips in a matter of minutes and was last seen trading at 0.6770, losing 1.75% on a daily basis.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.