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 New Zealand stats says total filled jobs fell 1.7% in April 2020 compared with march 2020.

Key notes

  • Job numbers fell by a record 37,500 in April 2020 amid COVID-19 effects.
  • April fall largest since the filled jobs series began more than 20 years ago.

NZD update

The NZD is tracking the yuan and Aussie, with slightly less correlated price action to equities towards the end of this week.

“Technically, the fact that we have held support at the old 0.6150/70 resistance level is a positive,” analysts at ANZ Bank explained. “As we have flagged for a while, a lot of good news is now priced in and NZD will be under pressure if the mood changes. Long term we’re concerned about global unemployment, slowing growth and the income shock of that.”