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Eurozone Employment Boosts Euro against New Zealand Dollar, will Gains Continue after NZ Sales Stats?

The Euro has risen by 0.3% against the New Zealand Dollar today, following the announcement of some positive moves for France’s unemployment rate.

  • EUR NZD rate rises to 1.47 – NZD EUR trades at 0.68
  • Minor unemployment drops raise EUR appeal – Uncertainty remains about Feb 20th agreement on Greek debt
  • New Zealand Dollar softens as NZ and AU leaders meet – First official engagement expected to cover Trump stance
  • Eurozone construction data expected tomorrow – NZ business PMI and sales stats out tonight

The Euro has risen against the New Zealand Dollar, triggered by a drop in France’s high-impact unemployment rate.

The Q4 rate has fallen from 10.1% to 10%, while elsewhere unemployment in the Netherlands has fallen from 5.4% to 5.3% in January.

An Italian trade surplus expansion has rounded off the morning’s supportive Eurozone ecostats, having climbed from 4.2bn to 5.8bn.

Eurozone political news has remained focused on Greek debt, with European Commissioner Pierre Moscovici remarking;

‘We are going to discuss on and on until Monday … to bring everybody on board, so that everybody feels comfortable with the parameters of what could be a compromise’.

This will keep negotiations going right up to the provisional deadline on February 20th, after which time EU officials are expected to shift their focus elsewhere due to general elections taking place in the Netherlands in March and in France at a later date.

Alongside the ANZ confidence index showing a dip in January, NZD investors have also been bracing for an impending meeting between NZ Prime Minister Bill English and Australian PM Malcolm Turnbull.

Subjects for discussion are expected to include a bilateral stance on Donald Trump, whose trade policies threaten to weaken Australia and New Zealand, as well as the Trans-Pacific Partnership (TPP) deal. The TPP currently remains in a state of limbo after Trump pulled the US out of the agreement in January.

Further Euro New Zealand Dollar exchange rate gains could come on Friday morning when the Eurozone construction output figure for December comes out.

No forecasts have been made but, as this previously posted a flat 0% rate of growth, the requirements for a Euro-supporting rise are extremely low.

NZ news will come sooner, consisting of tonight’s business NZ PMI for January as well as Q4’s retail sales results. The only tabled prediction has been for an NZD-supportive quarterly rise in sales from 0.9% to 1%.

Current EUR NZD Interbank Exchange Rates

At the time of writing, the Euro New Zealand Dollar (EUR NZD) exchange rate was trending in the region of 1.47 and the New Zealand Dollar Euro (NZD EUR) exchange rate was trending in the region of 0.68 today.