News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
Oil - US Crude
Wall Street
More View more
Real Time News
  • Indices Update: As of 21:00, these are your best and worst performers based on the London trading schedule: Wall Street: -0.01% US 500: -0.01% FTSE 100: -0.42% Germany 30: -0.43% France 40: -0.49% View the performance of all markets via
  • A “PIP” – which stands for Point in Percentage - is the unit of measure used by forex traders to define the smallest change in value between two currencies. Learn how to understand pips in forex here:
  • MACD who? The Moving Average Convergence Divergence (MACD) is a technical indicator which simply measures the relationship of exponential moving averages (EMA). Find out how you can incorporate MACD into your trading strategy here:
  • $NDX extends intraday losses as fears over rising yields continue to haunt high-flying equities
  • Commodities Update: As of 19:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.16% Gold: -1.47% Silver: -2.30% View the performance of all markets via
  • This smells like a head-and-shoulders pattern from the Nasdaq 100 ($NDX) but we don't see the same picture from the S&P 500, Dow or Russell 2000
  • Lot's of things down today, but know what isn't? Yup, longer-term #Treasury yields An average of the 10Y and 30Y having best day in about a week = portfolio rebalancing play still front and center Fed's Evans expressed little concern about yields
  • - Non-labor input costs rose moderately, particularly steel and lumber prices - Rising costs attributed to strong demand and supply chain issues - Several districts anticipate modest price increases over the next several months
  • - Commercial real estate continues to struggle, particularly offices, retail, and hotels - Low mortgage rates spurred additional demand for homes - Financial institutions reported lower loan volumes, along with lower delinquency rates and higher deposit levels
  • - Economic activity expanded modestly in most districts - Growth prospects still hampered by lingering virus fears -Hotel & leisure sectors still lagging, but showing signs of life
NZ Dollar Drops as Soft Jobs Growth Reduces RBNZ Rate Hike Bets

NZ Dollar Drops as Soft Jobs Growth Reduces RBNZ Rate Hike Bets

Daniel Dubrovsky, Strategist

Talking Points:

  • New Zealand Dollar fell against its major peers on softer employment data
  • While unemployment declined, y/y jobs growth was slowest since 1Q 2016
  • Local 2-year bond yields dropped pointing to reduced RBNZ rate hike bets

See how the New Zealand Dollar is viewed by the trading community at the DailyFX Sentiment Page.

The New Zealand Dollar depreciated against its major counterparts after a mostly disappointing second quarter jobs report. Starting with the good news, the unemployment rate ticked down to 4.8 percent from 4.9 percent as expected. This was the lowest reading since the fourth quarter of 2008.

Now the not so great news. Year-over-year, the number of jobs grew by 3.1% versus predictions of 4.1% growth. This was the slowest pace since the first quarter of 2016. Quarterly readings for the same measurement also fell short of estimates at -0.2% versus +0.7% expected. This was the first contraction since 3Q 2015.

After enjoying five consecutive quarters of growth, the labor force participation rate edged down to 70.0 percent from 70.6 percent. This could perhaps explain why unemployment fell amidst weak jobs growth as discouraged workers left the market.

With overnight index swaps pricing in at least one RBNZ rate hike over the next 12 months, todays timid employment figures seemed to have helped reduce some of those hawkish expectations. Indeed, 2-year New Zealand government bond yields fell as the data crossed the wires.

NZ Dollar Drops as Soft Jobs Growth Reduces RBNZ Rate Hike Bets

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.