New Zealand Total Filled Jobs: 17M vs 2.16M previous, Kiwi unchanged

Total Filled Jobs, released by Stats NZ, has been released as follows:

Total Filled Jobs

17M vs 2.16M previous.

NZD/USD outlook

The Kiwi is little changed compared to Friday morning still, trading at 0.6415 and has ignored the data. 

Swings and turns did correspond to equity market highs and lows but the NZD has held up well in context. We remain of the view that the RBNZ’s dovish reiteration that foreign asset purchases remain a policy option has not been sufficiently priced in. Not only does it make sense, given that the LSAP is limited by the small size of the NZGB market, but it would help the recovery,

analysts at ANZ Bank explained. 

Description of Total Filled Jobs

The Total Filled Jobs, released by Stats NZ, is an indicator that measures paid jobs that existed in the week ending on the 20th of the reference month. It captures a ‘snapshot’ of filled jobs at a point in time. A growing number of jobs is a positive (bullish) input for the New Zealand dollar, while a decreasing number is negative (bearish) for the NZD.