Investing.com – The New Zealand dollar rose to a daily high against its U.S. counterpart on Thursday, after government data showed that the rate of unemployment fell unexpectedly in the first quarter.
NZD/USD hit 0.7942 during late Asian trade, the daily high; the pair subsequently consolidated at 0.7916, gaining 0.24%.
The pair was likely to find support at 0.7864, Wednesday’s low and a two-week low and resistance at 0.7994, Wednesday’s high.
Statistics New Zealand said the jobless rate dipped to 6.6% in the first quarter, as seasonally adjusted total employment rose by 30,000 or 1.4% and the number of unemployed fell by 1.4%, to 155,000.
Economists had expected the jobless rate to remain unchanged at 6.7%.
SNZ said it stopped surveying employment status in Christchurch and surrounding districts after the February 22 earthquake, so job losses after that date are not reflected in the report.
The kiwi was also up against its Australian cousin, with AUD/NZD shedding 0.49% to hit 1.3535.
Later in the day, the U.S. was to publish official data on initial jobless claims and Federal Reserve Chairman Ben Bernanke was to speak.
NZD/USD hit 0.7942 during late Asian trade, the daily high; the pair subsequently consolidated at 0.7916, gaining 0.24%.
The pair was likely to find support at 0.7864, Wednesday’s low and a two-week low and resistance at 0.7994, Wednesday’s high.
Statistics New Zealand said the jobless rate dipped to 6.6% in the first quarter, as seasonally adjusted total employment rose by 30,000 or 1.4% and the number of unemployed fell by 1.4%, to 155,000.
Economists had expected the jobless rate to remain unchanged at 6.7%.
SNZ said it stopped surveying employment status in Christchurch and surrounding districts after the February 22 earthquake, so job losses after that date are not reflected in the report.
The kiwi was also up against its Australian cousin, with AUD/NZD shedding 0.49% to hit 1.3535.
Later in the day, the U.S. was to publish official data on initial jobless claims and Federal Reserve Chairman Ben Bernanke was to speak.