NZD: NZ Jobs market in worse than anticipated shape - Swissquote

FXStreet (Delhi) – Arnaud Masset, Market Analyst at Swissquote Bank notes that the New Zealand showed job market is in worse shape than was anticipated.

Key Quotes

“The unemployment rate rose to 6% in the third quarter from 5.9% in the March quarter. However, in spite of this apparent stability, the details are not pretty. The number of employed people contracted -0.4%q/q over the summer months, while the participation rate fell to 68.6% from 69.3%. NZD/USD currently sits on the 0.6645 resistance level (Fib. 38.2% on September-October rally) and seems determined to break it to the downside.”