The NZ Employment numbers for Q4 have just been released.

They came in worse than expected:

NZ Employment data for Q4 was:

- Employment (Q/Q) 0.1% (consensus +0.3%)
- Employment (Y/Y) 2.3% (consensus +2.6%)
- Unemployment Rate 4.3% (consensus 4.1%)
- Participation Rate 70.9% (consensus 71.1%)

In addition, Private Ordinary Time Wages were +0.5%/+2.0% (Q/Y), which in on expectations.

The NZD is lower in immediate response.

Current indicative levels are:

NZD-USD 0.6760 / 0.6785
NZD-AUD 0.9520 / 0.9545
NZD-EUR 0.5950 / 0.5975
NZD-GBP 0.5225 / 0.5250
NZD-JPY 74.40 / 74.65

The RBNZ have the OCR meeting and Monetary Policy Statement Wednesday 13th February.

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