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Little Follow Through After Mixed Employment Data

NZD

NZD/USD prints at $0.6210/15, the pair is ~0.1% firmer today.

  • To recap; employment growth was firmer than expected (0.8% q/q, 0.5% forecast), while the unemployment rate held steady at 3.4% (3.5% forecast). Wages were slightly below expectations, 0.9%, 1.1% forecast.
  • NZD/USD printed a high of $0.6222, however there was little follow through and gains have been pared.
  • AUD/NZD sits at $1.0725/35, a low of $1.0710 was printed in the aftermath of the employment data however losses have been pared and we sit unchanged from Tuesday's closing levels.

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