07/08/2024
Data released by Statistics New Zealand on Wednesday showed that the country’s Unemployment Rate rose to 4.6% in the second quarter (Q2) from 4.3% in the first quarter, which is better than the estimated 4.7%. Additionally, the Employment Change increased by 0.4% in Q2 from a 0.2% decline in the previous reading. This figure came in above the market consensus of a 0.2% decrease. The better-than-expected readings have diminished the possibility of the Reserve Bank of New Zealand (RBNZ) rate cut next week, which lift the Kiwi against the USD.
