I posted the NZ data earlier:
- New Zealand Q2 Unemployment rate 5.2% (vs. expected 5.3%)
- Recapping data earlier – New Zealand labour market data reinforces rate cut expectations
The kiwi has moved higher after the data, and after a brief and small pullback its retesting its earlier highs. AUD has been dragged higher alongside.
Westpac NZ see an RBNZ cut on August 20:
- 25bp rate cut highly likely
- leaving the door
open for further easing if needed - no strong signal
about the extent or timing of any future rate cuts
This article was written by Eamonn Sheridan at investinglive.com.