NZD/USD marked higher after the better than expected jobs report from New Zealand

The data is here:

• New Zealand Q2 unemployment rate 4.6% (vs. 4.7% expected)

In summary, New Zealand's unemployment rate rose to 4.6% in the April to June quarter

• economists had forecast a 4.7% unemployment rate

And employment increased 0.4% from the prior quarter

• economists had forecast 0.2% contraction in employment

I posted earlier that there were building expectations of an RBNZ rate cut on August 14. This takes some of the confidence out of that call.