AUD/NZD drops below 1.0730 as focus shifts to NZ GDP and Aussie Employment data – by Sagar_Dua24 RBA AUDNZD RBNZ GDP Employment
ruggling in extending its recovery as investors are getting anxious ahead of the release of New Zealand’s Gross Domestic Product and Australian Employment data, which will release on Thursday.
According to the estimates, the NZ economy has contracted by 0.2% vs. a growth of 2.0% witnessed in the third quarter. The annual GDP has expanded by 3.3%, lower than the prior expansion of 6.4%. A decline in the growth rate indicates subdued demand from households, which will relieve the stress of Reserve Bank of New Zealand policymakers, which are making efforts in decelerating inflation expectations.
Meanwhile, the release of the Australian Employment data would bring a power-pack action to the Australian Dollar. As per the consensus, the Australian economy has added fresh 48.5K jobs in February vs. a lay-off registered in January of 11.5K. And, the Unemployment Rate is expected to drop to 3.6% from the former release of 3.7%.
An upbeat Australian labor market data could propel the inflationary pressures again as households would be equipped with higher funds for disposal. data that demonstrate inflation projections for the next 12 months is expected to increase to 5.4% from the former release of 5.1%. An occurrence of the same would support more rates from the Reserve Bank of Australia .
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
NZD/USD bulls ignore downbeat NZIER report near 0.6150, focus on New Zealand GDP, US inflationNZD/USD bulls ignore downbeat NZIER report near 0.6150, focus on New Zealand GDP, US inflation – by anilpanchal7 NZDUSD RiskAppetite GDP Fed Inflation
Read more »
Cate Blanchett continues her sustainable style streak at Oscars 2023The Aussie star, nominated for Best Actress for her performance in “Tár,” hit the red carpet in a sustainable Louis Vuitton look.
Read more »
AUD/USD Price Analysis: Bulls meet channel resistance near 0.6650, but committed from 0.6600As per the pre-open market analysis, the price rallied into and beyond the M-formation´s neckline which was forecasted to be a pull on the Aussie for
Read more »
China’s Premier Seeks to Soothe Anxieties About Economy, Business EnvironmentChina’s new premier, Li Qiang, pledged to shore up growth and restore business confidence, seeking to assure the world that Beijing can overcome domestic difficulties and diplomatic tensions
Read more »
USD/KRW drops back below 1,320 on BOK commentsBank of Korea (BOK) Governor said in a statement on Monday that they “will take market stabilizing measures if necessary.” “Closely monitoring interes
Read more »
EUR/GBP drops to nearly two-week low, weakens further below 0.8800 markThe EUR/GBP cross remains under some selling pressure for the fifth successive day on Tuesday and drops to a nearly two-week low during the early Euro
Read more »