NZD jumps on huge beat for New Zealand employment data

NZ unemployment rate dropped to 3.9% against expectations of 4.3%

A huge beat indeed.

Data is here:

• New Zealand Q2 unemployment rate 3.9% (vs. expected at 4.3%)

NZD marked higher:

You are going to see questions aarise over the 'baked in' rate cut from the RBNZ due tomorrow. Maybe not so baked in after all ...