Market Overview

6 November 2018 13:59

Peter Bukov

The New Zealand dollar was trading near six week highs on Tuesday and the NZDUSD pair was 0.25% stronger during the US session, hovering near 0.6680. Investors are eagerly waiting for tonight’s New Zealand labor market data for the third quarter. The employment change is forecast to stay at 0.5%, while the unemployment rate should also stay unchanged at 4.5%. Moreover, the market expects the participation rate to remain at 70.9%. However, wage growth is seen slowing slightly, from 2.1% to 1.9%, which could be Kiwi negative. Volatility is usually higher after these numbers.
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