The NZD/USD sits at a similar level to yesterday morning,at 0.8480, at present. The NZD/USD experienced brief volatility after the releaseof the NZ 2Q labour market report yesterday morning. Thisis not surprising given the report initially seemed to providesomething for everyone. The unemployment rate fell morethan expected, to 5.6% (consensus 5.8%), but this waspartly explained by an unexpected decline in the labourparticipation rate. In addition, the quarterly employmentchange was softer than expected (0.4% vs. 0.7%).
Read the full report: FX Daily