NZDUSD At One-Month Low; Jobless Rate Ticks Higher

Published on Aug 02, 2023 11:09

The New Zealand dollar extended slide to a one-month low on Wednesday after data reported an uptick in New Zealand jobless rate. Data revealed NZ labour market remains tight but is showing signs of easing with the unemployment rate climbing to 3.6 per cent from 3.4 per cent in the prior quarter. Employment change on quarter rose 1.0%, better than expected at 0.6% and 1.1% previously. Meanwhile, dollar index retreating back from recently attained 102 mark after Fitch downgraded the United States government`s credit rating from AAA to AA+ is expected to limit losses in the kiwi dollar. NZDUSD pair is currently quoting at 0.6111, down half a percent on the day.