Last night was published statistics on the labor market in New Zealand, which has led to an increase in volatility of the New Zealand dollar. Thus, the number of people employed in the country increased by 0.4% or 10 thousand people, although analysts predicted rate increase by 0.7%. At the same time, the unemployment rate fell by 0.2% to 5.6%.
Fewer jobs will result in a slight increase in inflation, which would delay the moment of raising interest rates. We expect that in the near future the price of New Zealand dollar will stabilize near current levels. The potential of further fall significantly decreased, but to open positions, we need new signals.