Advertisement
Singapore markets close in 7 hours 9 minutes

  • Straits Times Index

    3,296.20
    +23.48 (+0.72%)
     

  • Nikkei

    38,282.83
    +730.67 (+1.95%)
     

  • Hang Seng

    16,955.38
    +126.45 (+0.75%)
     

  • FTSE 100

    8,044.81
    +20.94 (+0.26%)
     

  • Bitcoin USD

    66,863.33
    -41.27 (-0.06%)
     

  • CMC Crypto 200

    1,436.69
    +21.93 (+1.55%)
     

  • S&P 500

    5,070.55
    +59.95 (+1.20%)
     

  • Dow

    38,503.69
    +263.71 (+0.69%)
     

  • Nasdaq

    15,696.64
    +245.33 (+1.59%)
     

  • Gold

    2,332.80
    -9.30 (-0.40%)
     

  • Crude Oil

    83.31
    -0.05 (-0.06%)
     

  • 10-Yr Bond

    4.5980
    -0.0250 (-0.54%)
     

  • FTSE Bursa Malaysia

    1,565.97
    +4.33 (+0.28%)
     

  • Jakarta Composite Index

    7,110.81
    -7,073.82 (-49.87%)
     

  • PSE Index

    6,559.35
    +52.55 (+0.81%)
     

NZD/USD Tumbles At New Zealand Employment Change

Courtney Edwards

The Takeaway:NZD Employment Change (QoQ) (4Q) > -1.0% versus +0.4% expected, from -0.4% (Q3) > NZDUSD BEARISH

In the December 2012 quarter, the New Zealand employment rate decreased by 0.8 percentage points. This is the third consecutive quarter the employment rate has dropped. The number of people employed decreased by 23,000 (down 1.0%). Bloomberg analysts expected a +0.4% increase for employment change. The Household Labour Force survey showed a 0.4 percentage point decline in unemployment rates to 6.9%. The number of people unemployed decreased by 10,000 (down 6.0%).

NZDUSD 1-Minute Chart: February 6, 2013

NZD_Employment_Change_body_Picture_1.png, NZD/USD Tumbles At New Zealand Employment Change
NZD_Employment_Change_body_Picture_1.png, NZD/USD Tumbles At New Zealand Employment Change

Chart from FXCM Trading Station, created by Courtney Edwards

ADVERTISEMENT

The NZD is selling across the board at the disappointing employment change rate. Prior to the release, the pair seemed to regain stability during overnight trading. However, the NZDUSD once again turned negative falling 20 pips to hit a session low of 0.8411 during European trading. The pair continued to trade in the mid-84 range. The NZDUSD is now at session lows around 0.8340.

--- Written by Courtney Edwards, DailyFX Research

New to the FX market? Save hours in figuring out what FOREX trading is all about.

Take this free 20 minute “New to FX” course presented by DailyFX Education. In the course, you will learn about the basics of a FOREX transaction, what leverage is, and how to determine an appropriate amount of leverage for your trading.

Register HERE to start your FOREX learning now!

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from FXCM.