We thank you for reading news of the New Zealand deduction from the highest level in three months against the US dollar according to labor market data and inflation expectations, and now with details
DUBAI – The New Zealand Dollar has moved in a narrow range to the Asian fair to respond to the highest level since August 2 against the US dollar in light of the developments and economic data that followed the New Zealand economy, and before the commencement of the Federal Open the market in Washington on Wednesday and Thursday and expecting the results of the mid-term elections in the US Congress.
On 0237 GMT, the New Zealand dollar fell by 0.03% to 0.6737, compared to an initial level of 0.6739 after reaching a low value of 0.6713 and a three-month value of 0.6766.
We followed the New Zealand economy to reveal data on the labor market in the third quarter, which showed a drop in unemployment to 3.9%, the lowest since the second quarter of 2008 compared with the previous quarter and a 4.4% expectation, with an acceleration of the index growth of job changes to 1.1 Compared to 0.6% in the second quarter, as opposed to the expected slowdown of 0.5%.
In the same context, we followed the release of the labor cost index, which showed a slowdown in growth to 0.5% in line with expectations, compared with 0.6% in the second quarter, while the average estimate of vinegar per hour showed a growth acceleration of 1.4 % compared to 0.2% in the second quarter, Expectations of 0.8%, which occurred before we saw the Reserve Bank of Australia in the fourth quarter inflation forecast, which showed a stability of 2.0%.
On the other hand, the markets look at the initial results of the congressional elections in all 435 seats in the House of Representatives and in all 34 seats in the Senate and the start of the Federal Open Market Committee on November 7 and 8, Monetary Policy Makers maintain the short-term reference rates between 2, 00 and 2.25%.
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