Kiwi dips following NZ data

Kiwi dips following NZ data

On Monday, the New Zealand dollar tumbled versus its US rival, after inflation expectations in New Zealand decreased for the last quarter. Meanwhile, the Australian dollar was intact because financial markets were still digesting Friday’s positive American jobs reports.

The currency pair NZD/USD went down 0.18% being worth 0.7397.

A bit earlier, the Reserve Bank of New Zealand told its inflation expectations slumped from 2.2% to 2.1% during the second quarter for the three months.

The currency pair AUD/USD was nearly intact, sticking to 0.7933. As for trading volumes, they were expected to stay thin with Australian markets unavailable due to a national holiday.

The US currency remained backed after on Friday the US Labor Department informed that the US economy managed to add up to 209,000 jobs the previous month, ruining expectations for a leap of 183,000.

In July, the unemployment rate went down to 4.3% from 4.4% last month, which is quite in line with expectations.


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