New Zealand jobs report for Q1 2023: Unemployment rate 3.4% (3.5% expected, 3.4% prior)

Earlier from NZ we had the RBNZ Financial Stability Report:

• RBNZ Governor Orr says NZ financeial system is well placed to handle higher interest rates

There was little to alarm in that. And now we get employment report beats. Put these two together and, at the margin, the hurdles to further RBNZ rate hikes are lower.

• Jobs added: beat
• Unemployment rate: beat
• Wage growth: miss (which the RBNZ will like)

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nzd NZD The New Zealand Dollar (NZD) is the official currency of New Zealand and the tenth most traded currency in the world. Also referred to as the Kiwi, the currency is also utilized in several Pacific islands, including Tokelau, the Cook Islands, Pitcairn islands, and Niue.The NZD’s history is long, extending back to 1934 with the creation of the Reserve Bank of New Zealand. While far from the most traded currency in the global forex market, the NZD has a key role nonetheless.The NZD is considered a The New Zealand Dollar (NZD) is the official currency of New Zealand and the tenth most traded currency in the world. Also referred to as the Kiwi, the currency is also utilized in several Pacific islands, including Tokelau, the Cook Islands, Pitcairn islands, and Niue.The NZD’s history is long, extending back to 1934 with the creation of the Reserve Bank of New Zealand. While far from the most traded currency in the global forex market, the NZD has a key role nonetheless.The NZD is considered a Read this Term