There seems to be no respite to the economic indicators in New Zealand as the latest jobs numbers posted disappointing figures. Unemployment rate for the month of July stood at 5.9%, up from 5.8% last month, while on a quarterly basis labour market growth grew at a subdued pace of 0.3%, down from 0.7% previously. The New Zealand economy added...
The Reserve Bank of New Zealand in its July monetary policy meeting decided to cut interest rates by 25 basis points, bringing the overnight cash rate from 3.25% to 3%. The move was widely expected and was in fact priced in since the last rate cut a month ago. As a result, the Kiwi was largely muted to the news. [caption id="attachment_6018" ...
NZDJPY: The Kiwi posted an all time high above 94 in early 2014 and since then has been in a gradual decline. While the currency initially fell rapidly in the early part of this year to form a short term base at 85.37, the bounce from here was short lived as the Kiwi formed a lower high near 92 and eventually broke the previous support near 85.3...
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