Kiwi edges down on mixed data, Aussie rebounds
On Wednesday, the New Zealand dollar dipped against its American counterpart, following the issue of mixed New Zealand employment data. Meanwhile, the Australian dollar managed to climb up higher its recent one-and-a-half month dip, having recovered from the RBA’s latest monetary policy move.
The currency pair NZD/USD sank 0.29%, trading at 0.6893.
According to Wednesday’s New Zealand statistics in the first quarter the unemployment rate surged to 5.7% from 5.3%, thus leaving a 5.5% expectation behind. The report also revealed that in the last quarter the number of employed people surged by 1.2%, thus beating forecasts for a 0.7% soar.
AUD/USD leapt 0.2% at 0.7498, a slight recover from one-and-a-half month drop of 0.7468 hit overnight.
The Aussie managed to recover from losses reported right after on Tuesday, the RBA shocked financial markets by bringing down its interest rate from 2% to 1.75%.
Meanwhile, the evergreen buck also kept recovering from abrupt losses reported after last week the Fed decided not to change its interest rates.