NZ: Q2 Unemployment rate to tick back up to 4.3% – TD Securities

Analysts at TD Securities are looking for the New Zealand’s unemployment rate to tick back up to 4.3% in Q2, in line with consensus.

Key Quotes

“It's difficult to see anything in this data release though that would change the market's view on this week's expected RBNZ rate cut.”

“We also have the fortnightly Dairy auction. The GDT index rose 2.7% at the last auction, putting a stop to falling prices over the prior 4 auctions. Since then milk futures have posted a 5% gain, suggesting stability is returning to the market.”