New Zealand Employment Report leaves NZD sidelined ahead of Fed

The first quarter labour market data for new Zealand has arrived and has little effect n the price of NZD with the Unemployment Rate coming in as expected at 3.2%. The focus is on the Federal Reserve. 

More to come...

NZD/USD update

The price is testing a weekly demand area and a correction higher could be on the cards. 

The price, from an hourly perspective, remains within a sideways channel. 

About the Unemployment Rate

The Unemployment Rate released by the Statistics New Zealand is the number of unemployed workers divided by the total civilian labor force. If the rate is up, it indicates a lack of expansion within the New Zealand labor market. As a result, a rise leads to weaken the New Zealand economy. A decrease of the figure is seen as positive (or bullish) for the NZD, while an increase is seen as negative (or bearish).released by the Statistics New Zealand is the number of unemployed workers divided by the total civilian labor force. If the rate is up, it indicates a lack of expansion within the New Zealand labor market. As a result, a rise leads to weaken the New Zealand economy. A decrease of the figure is seen as positive (or bullish) for the NZD, while an increase is seen as negative (or bearish).