AUDNZD leads even Kiwi slide after NZ jobs data

The New Zealand dollar eased across the board after New Zealand’s Employment Change q/q and Unemployment Rate prints landed at 21:45 UTC on 3 November. The sharpest move came in AUDNZD, which led a broad but fairly even Kiwi slide 45 minutes on.

Where the Kiwi moved

AUDNZD rose 0.56%, climbing from 1.24098 to 1.24794 — the biggest single move of the set as the Kiwi gave ground to the Aussie.

EURNZD followed, up 0.50% from 1.99401 to 2.00389. NZDJPY eased 0.49%, slipping from 89.032 to 88.596.

GBPNZD added 0.48%, moving from 2.39050 to 2.40202. NZDUSD softened 0.44%, from 0.56084 to 0.55840, and NZDCHF fell 0.43%, from 0.46030 to 0.45830.

What the reaction shows

The reaction was broad rather than sharp. Every one of the six pairs moved against the New Zealand dollar, and the spread between the largest and smallest move was narrow — roughly 0.43% to 0.56%.

That evenness is the notable feature here: no single cross broke away. AUDNZD edged ahead of the pack, but the Kiwi softened at a similar pace against the Australian dollar, euro, yen, pound, US dollar and franc alike, pointing to a reaction spread uniformly across the Kiwi complex rather than concentrated in one pair.

Descriptive market news from the ForexBullion Research Team. Not investment advice.