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Data published by Statistics New Zealand revealed that the unemployment rate in the fourth quarter of 2018 fell from 4% (revised to 3.9%) in the fourth quarter of 2018 to the previous quarter and was below market expectations of 4, 1%. The underlying details of the report revealed that the rate of activity over the same period has decreased slightly from 71.1% to 70.9% and that the hand cost index -d 's work remained unchanged quarterly, missing badysts' estimate of 0.6%.
With the initial market reaction, the NZD / USD lost more than 50 pips in a few minutes and was last seen at 0.6770, losing 1.75% on a daily basis.
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