NZD/USD: testing tactical support
The Reserve Bank of New Zealand made announcements regarding its monetary policy. The NZD/USD dropped.
Will the jobs data support the aussie?
Australia will release the level of employment change and unemployment rate on June 13, at 4:30 MT time.
The employment change shows the change in the number of employed people during the previous month. As for the unemployment rate, it represents the percentage of the total unemployed workforce. Last time, the level of employment change outperformed the forecast of 15.2 thousand people. It advanced by 28.4 thousand people. However, the actual level of unemployment rate disappointed the market with an increase to 5.2%. As a result, the aussie suffered. What will happen this time?
• If the actual level of employment change is higher and the unemployment rate is lower than the forecasts, the AUD will rise;
• If the actual level of employment change is lower and the unemployment rate is higher than the forecasts, the AUD will fall.
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