Home Featured Eyes on NFP Report, RBNZ Surprises Markets

Eyes on NFP Report, RBNZ Surprises Markets

Eyes on NFP Report, RBNZ Surprises Markets

Investors and traders will be interested in Friday’s US Nonfarm Payrolls Report. The Federal Reserve takes into consideration the NFP reports when evaluating its monetary policy while it’s worth mentioning that NFP figures have consistently been higher than expected in 2023.

The US Labour Department’s Job Openings and Labour Turnover Survey, JOLTS, showed that there were 9.93 millions of available jobs. Since May 2021, this is the first time that the number has fallen below 10 million.

The Reserve Bank of New Zealand announced a 50 basis-point rate hike, surprising economists. On Wednesday morning, the New Zealand Dollar surged against the US dollar and gained 0.60%.

Figures of US Nonfarm Payrolls on Friday

On Good Friday, the US Bureau of Labour Statistics will release the Nonfarm Payrolls March number. Analysts predict a figure close 250,000. Note that nonfarm payrolls reached 311,000 in February. This is higher than the expected reading of close to 205,000.

It should be noted that the S&P Global composite PMI survey said that the rate of total job creation was the fastest in six months in March.

RBNZ increases rates more than anticipated

The RBNZ made this announcement earlier today…

Continue reading…