I posted earlier in the session on how the solid employment market report (the jobs beat, wages miss is Goldilocks zone for the RBNZ), combined with no financial stability concerns, are easing the way for further Reserve Bank of New Zealand rate hikes:
- New Zealand jobs report for Q1 2023: Unemployment rate 3.4% (3.5% expected, 3.4% prior)
- RBNZ Governor Orr says NZ financial system is well placed to handle higher interest rates
The Reserve Bank of New Zealand meet this month, May 24.
NZD/USD moved higher, outpacing peers and is just off its highs.
Meanwhile AUD/USD is in no-mans land, it 'gapped' up after the RBA hike yesterday and has spent since then partially filling the gap. There is more to go.
