Forex

Kiwi rises on robust jobs data

2020-08-05 18:30:44 GMT (Economies.com)

The New Zealand dollar rose on Wednesday, after the release of strong jobs data that beat analysts' expectations.

 

The data showed that New Zealand's AIG construction index rose to 42.7 points in July, vs. 35.5 points in June.

 

The unemployment rate fell to 4% in July vs. 4.2% in June, beating forecasts of 5.6%, and the employment change reading showed a drop by 0.4%, also better than forecasts of a drop by 2%.

 

Most countries around the world are still trapped in the fight against the coronavirus crisis, infections rose to more than 18 million confirmed cases globally yesterday, but New Zealand is one of the least countries with cases and deaths, after it has succeeded in containing the outbreak early.

 

As of 17:21 GMT, NZD/USD rose 0.4% to 0.6651, after hitting an intraday high of 0.6674 and a low of 0.6617.

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