New Zealand Rate and Australian Unemployment

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Wednesday evening at 5:00pm EST (New York Time) the Reserve Bank of New Zealand is scheduled to release their interest rate statement.

4 in-a-half hours later at 9:30pm EST, the Reserve Bank of Australia will release their unemployment figures.

No change of rates is expected from New Zealand. It is interesting to note that only 25 basis points (.25%) make up the difference between New Zealand rates and Australian Rates. Australia has had the highest rates for a very long time. A rise in New Zealand rates or a further drop in Australian rates could have an major impact on both currencies’ market sentiment.

AUD unemployment is expected to rise back to 5.6%. In spite of recent volatility, AUD unemployment is on a growth trend. April showed a 50k+ increase of jobs in Australia. The AUD has been week over the past couple months, hitting multi-year lows.

All of these news announcements have the potential of moving the Forex Market.

For news updates and more fundamental analysis, follow me on Twitter. Follow the Winner’s Edge account, Casey’s twitter account, Nathan’s twitter account, and Tim’s twitter account too for Forex analysis, and trade ideas!

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