The New Zealand Q1 employment data showed
- More jobs added than expected
- jobless rate lower despite a rising participation rate
This is a solid report indeed. the obvious caveat is that the data is from January to March and we are now into May, with economic indicators still doing OK in NZ but coming off the boil from the data during bounceback. Still, a good report.
The Bank of Canada has indicated it’ll be winding back monetary stimulus, how much further behind will the Reserve Bank of New Zealand be?
The NZD was marked higher immediately: