#NZDUSD @ 0.62106 New Zealand Q1 employment report impresses buyers, @nehcap view: Further upside expected
…
This is a premium post.
[s2If !current_user_can(access_s2member_level4)]Please register for FREE REGISTER to read full post below containing analysis. In case of any error or you think you are not able to read the full post below, please email us at support#nehcap.com [lwa][/s2If] [s2If current_user_can(access_s2member_level1)]
Statistics New Zealand unveils the first quarter (Q1) 2023 employment report around 22:45 GMT on Tuesday to entertain the NZD/USD traders. The headline results are as follows:
Following the updates New Zealand (NZ) employment report, the NZD/USD pair extends the previous day’s run-up towards refreshing a two-week top near 0.6223, before retreating to 0.6212 by the press time. The reason for the Kiwi pair’s latest hesitance in cheering the upbeat employment data could be linked to the the Reserve Bank of New Zealand’s (RBNZ) bi-annual Financial Stability Report (FSR), as well as cautious mood ahead of the top-tier data/events from the US.
Also read: RBNZ FSR: New Zealand financial system resilient but household pressures growing
Trend: Further upside expected
The quarterly report on New Zealand’s Unemployment Rate and Employment Change is being released by Statistics New Zealand.
The unemployment rate is the number of unemployed workers divided by the total civilian labor force. If the rate is up, it indicates a lack of expansion within the New Zealand labor market. As a result, a rise leads to weaken the New Zealand economy. A decrease of the figure is seen as positive (or bullish) for the NZD, while an increase is seen as negative (or bearish).
On the other hand, employment change is a measure of the change in the number of employed people in New Zealand. Generally speaking, a rise in this indicator has positive implications for consumer spending which stimulates economic growth. A high reading is seen as positive (or bullish) for the NZ dollar, while a low reading is seen as negative (or bearish).
[/s2If]
Nehcap Expert Advisor
The NEHCAP MT4 EA is high quality professional trading system geared to generate returns without using GRID or martingales. Each trade has strict risk per trade parameter. The pairs under management include EURUSD, GBPUSD, AUDCAD, AUDNZD,GBPAUD, EURAUD, EURCAD, CHFJPY and many more.
The system is trading live: LIVE ACCOUNT TRACKING
You can run it free. Apply for a free trial and track our account. Buy the system or use profit share mechanism to generate returns on your MT4.
Join Our Telegram Group
