NZ dollar trades sideways, shrugs off historical jobs data

Wed, 06 May 2020

The New Zealand dollar was range-bound after quickly shrugging off better-than-expected labour data which pre-dated the government's closure of much of the economy to stem the spread of coronavirus. The kiwi was trading at 60.54 US cents at 5pm in Wellington from 60.66 cents at the same time yesterday. The trade-weighted index was unchanged at 68.54. The data showed the unemployment rate rose to 4.2 percent in the March quarter from 4 percent, less than the 4.4 percent rate the market had expected. Employment grew 0.7 percent when economi...

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