Forex

New Zealand dollar extends gains on positive economic data

2020-08-06 17:53:11 GMT (Economies.com)

The New Zealand dollar rose on Thursday, to extend its gains after the release of strong jobs data that beat expectations yesterday.

 

Data showed today that the inflation expectations index rose 1.4% in July, vs. 1.2% in June.

 

New Zealand's AIG construction index rose to 42.7 points in July, vs. 35.5 points in June, and the unemployment rate fell to 4% in July vs. 4.2% in June, beating forecasts of 5.6%,

 

While the employment change reading showed a drop by 0.4%, also better than forecasts of a drop by 2%.

 

The New Zealand government did not reveal any cases of the coronavirus, as the country is one of the least with cases and deaths, after it has succeeded in containing the outbreak early.

 

As of 15:59 GMT, NZD/USD rose 0.1% to 0.6658, after hitting an intraday high of 0.667 and a low of 0.6627.

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