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NZ Interest Rate & Job data will be released. How could these events affect NZD?
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Markets await for New Zealand Employment Change QoQ and RBNZ Interest Rate Decision today.
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The New Zealand Employment Change QoQ will be published on Tuesday, February 6th, 2018 at 21:45 GMT
The Royal Bank of New Zealand will announce its Interest Rate Decision on Wednesday, February 7th, 2018 at 20:00 GMT.
Last quarter, the New Zealand Employment Change surprised traders, with a reading of 2.2% (forecast: 0.8%). Analysts anticipate that the employment market has grown 0.8% during the last quarter of 2017.
After reaching a 5-month high, traders have mixed emotions about the New Zealand dollar.
What do you think?
Will the New Zealand economy continue to outperform? Or will the USD have the upper hand and strengthen against the NZD?
How will these events affect NZD?
In the recent weeks, the New Zealand Dollar (NZD) has benefitted from 3 financial turning points:
- Weakness of the USD
- Release of positive trade data
- Positive assessment of the New Zealand economy’s credit rating by Standard and Poor’s.
Nonetheless, inflation has disappointed recently and this may lead the Royal Bank of New Zealand to delay any interest rate hike.
Job creation is an important indicator of consumer spending and contributes to economic growth.
A higher than expected reading should be taken as positive for the NZD, while a lower than expected reading should be taken as negative for the NZD.
