Today in New Zealand was published important data on the unemployment rate in the country that has decreased in the second quarter to 5.1%, against growth forecast to 5.3%. In the first quarter, the figure was 5.2%. The number of people employed in the country increased by 2.4%, against growth of 1.2% in the first quarter. This fact leads to an increase in consumption, which is positive for the local economy. On the other hand, inflation remains low and the Reserve Bank of New Zealand may continue easing of monetary policy in the near future. Our medium-term outlook remains negative with potential targets at 0.6600 and 0.6250.