New Zealand dollar is affected by jobs data

New Zealand dollar is affected by jobs data

On Wednesday, the New Zealand dollar headed south following dismal jobs data,which  heightened expectations that interest rates would be decreased, as traders awaited the end of the Fed’s two-day policy gathering.

In general, trading was thin due to holidays in Asia and the European Union. The vast majority of currency pairs fluctuated in tight ranges.

The Fed gathering took place after firm American economic data in April pushed the evergreen buck to a two-year maximum.

Against a group of currencies, the USD index headed south demonstrating an outcome of 97.381.

The common currency managed to rally versus the evergreen buck reaching $1.1234, which appears to be its highest outcome since April 23. On Tuesday, firm economic data in the euro zone backed some short covering from hedge funds, which have been betting against the euro.

The New Zealand dollar turned out to be the day’s key mover. It headed south by 0.5% after data revealed that employment suddenly decreased in the March quarter. As for the jobless rate, it slumped to 4.2%.

Financial markets responded by betting that a rate cut was more real. However, the Reserve Bank of New Zealand, whose policy meeting is expected to take place next week, has already told that most probably its next move will be down.

The New Zealand dollar revived from earlier minimums. Last it decreased by 0.2% being worth $0.6663.

As for the Australian dollar, it tacked on by 0.1% reaching $0.7059.

Accommodative monetary policy worldwide has kept volatility contained across financial markets, while the demand for risky assets headed north.

The UK currency went up by 0.3% reaching $1.3074.


What to Trade on August 29 - September 2?
What to Trade on August 29 - September 2?

Last week several important economic updates influenced the Forex market. US preliminary GDP fell less than expected (0.6% actual vs. 0.7% forecast). Below you will find the key events to trade on during the week from August 29 to September 2.

Monday started with volatility
Monday started with volatility

Have a look at the key financial instruments on Monday, February 28. Geopolitics is currently on all news frontlines. Western nations escalated sanctions on Russia for the invasion of Ukraine.

Latest news

FED and BOE Make Another Attempt to Beat Inflation
FED and BOE Make Another Attempt to Beat Inflation

The Federal Reserve (Fed) will announce its Interest Rate Decision and make a statement about the future monetary policy on Wednesday, September 21, GMT+3. After the higher-than-expected inflation numbers published on September 13, there’s almost no doubt the Federal Reserve will come up with another 75-basis-point rate hike. However, surprised by the CPI numbers, several Fed members announced the possibility of a 100-basis-point rate hike on Wednesday.

Deposit with your local payment systems

Feel the Team Spirit

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.


A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera