New Zealand's Unemployment

(Reuters) - The euro dipped against the dollar on Thursday as a jump in borrowing costs at a Spanish debt auction highlighted market concerns about Madrid's economic problems, and the shared currency looked vulnerable ahead of a European Central Bank rate decision. Spain sold 2.5 billion euros of three- and five-year bonds to solid demand, but yields jumped compared with previous auctions. It was the first test of market appetite for Spanish debt since the country slipped into recession and had its credit rating cut. The euro was last down 0.15 percent at $1.3136, hovering within sight of the 10-day low of $1.3121 hit on Wednesday after weaker-than-expected euro zone manufacturing data and rising unemployment figures. Immediate support was seen around the 100-day moving average at $1. ...

New Zealand's jobless rate rose in the quarter ending in March as growth in the workforce outpaced the number of jobs created, leaving the central bank ample time to consider its next move. New Zealand economy released the first quarter unemployment rate, where it increased to 6.7% compared with the prior reading of 6.3% that was revised to 6.4%, also it came more than expectations of 6.3%. There's a weak tinge to the report in the sense that full time employment is down, the jobless rate advanced to the highest level in about two years as people failed to get any chances for working, which certainly suggests there's plenty of slack still in the labor market and no reason for the Reserve Bank of New Zealand to worry about wage growth. Moreover, the first quarter data for the employment ...

The Week Ahead: Greece Deal and 3 Central Bank Meetings on Tap Another action packed week awaits as we watch and wait for Greece and the troika to sign on the dotted line, and with three central banks (RBA, BoE and ECB) on tap. US data The US employment report on Friday was a very interesting one - but not due to the strong headline data. Rather, the internals show a very confusing picture that require a good dose of explanation, with something for both pessimists and optimists to latch onto. Our Macro Mads will enlighten us with a breakdown of why some of the internal numbers were so confusing with this report and how we should read them. The takeaway? The jobs report was about as good as touted and this was also somewhat corroborated by the strong employment sub-index in the January ...

Markets continued to feel optimistic today, increasing their demand on the higher yielding assets including equities, as the IMF’s intention to expand its lending resources by $500 billion to help the euro-zone countries fight the debt crisis, which eased worries about Europe's funding difficulties. The International Monetary Fund is seeking to more than double its lending resources, yet the U.S. and some other countries are rejecting the idea, considering that the Europe must solve this problem with its own money. Meanwhile Portugal’s yields fell today a successful auction yesterday. More relief was felt in Asia on reports showing China considers easing the capital requirements and is letting its five biggest banks boost lending to avoid hard landing risks, while Greece is expected soon ...

Asian stocks climbed today on the first full trading session for 2012 after upbeat U.S. and European economic data which improved the outlook for global growth and increased investors' appetite for risk. The U.S. manufacturing rose yesterday at the fastest pace in six months which was added to data showing stronger PMI in China, UK, Switzerland, India and Australia, while in Germany the unemployment fell. This eased the concerns over the health of the global economy and the MSCI Asia Pacific Index advanced 1.1% at 15:49 p.m. in Tokyo, yet some gains were limited as Greece warned it could leave the euro zone by April. Investors will follow today the US factory orders numbers which probably climbed in Nov. the most in four months, as well as Germany's and EU's PMI Services and UK's PMI ...

Fundamental market overview EUR German Chancellor Angelina Merkel crushed speculation Greece may default in the near future or even leave the Eurozone. "I think we will do Greece the biggest favor by not speculating much, but instead encouraging Greece to implement the commitments it has made," said Merkel. USD Month on month retail sales unexpectedly stagnated in August on limited income growth and weak employment, estimated the U.S. Census Bureau on Wednesday. Economists expected the reading to increase 0.2%. GBP The number of people claiming unemployment benefits increased by 20.3 thousand to 1.58 million in August, the Office for National Statistics said on Wednesday. The number of employed in the economy declined by 69,000 to 29.17 million in the three months to July. CHF Swiss ...

New Zealand economy unexpectedly recorded trade surplus in July, more than forecasts as the nation's exports rose during this period alongside recovery in global demand, while imports fell to a six month low that helped to narrow the nation's shortfall. New Zealand's trade surplus narrowed to NZ$129 million during the month of July, from a previous surplus of NZ$230 million in June that was revised to NZ$197 million, while expectations were referring to a deficit of NZ$100 million. New Zealand's exports slid to NZ$3.72 billion in July from NZ$3.97 billion during the month of June, which was revised to NZ$3.95 billion, while the analyst's expectations were NZ$3.85 billion. Dairy exports, which make up fifth of overseas sales, declined to NZ$808 million, the lowest since September as ...

The Week Ahead Highlights Looking beyond debt, growth is stalling US debt debate unresolved Europe Reaches the Summit New Zealand recovery and Kiwi flying higher Key data and events to watch next week Looking beyond debt, growth is stalling The European debt crisis and the US debt ceiling debate have dominated headlines and driven market action in recent weeks, but we think the real story unfolding is that of slowing growth in major economies. Just in the past week, the Eurozone ZEW survey, Eurozone consumer confidence, and Eurozone composite PMI's all fell by more than expected. In Germany, the manufacturing PMI new orders index fell to 47.6, indicating contraction ahead in the core's growth engine. In China, the MNI July flash manufacturing PMI survey dropped from ...

Increased market volatility is on today's forecast with a significant news day ahead. Most importantly, the US economy will be publishing a string of reports concerning producer inflation (PPI), unemployment claims, retail sales, and crude oil inventories. The euro zone will also be releasing its CPI data. Economic News USD - USD Halts Climb after Bernanke Testimony Federal Reserve Board Chairman Ben Bernanke released a statement yesterday which hinted that the Fed may consider another round of monetary easing should the beleaguered economy continue to worsen. The news has delivered a significant impact on the value of the US dollar (USD) which was seen in decline for the first time since the middle of last week. The EUR/USD was seen moving back towards 1.4100 yesterday while the GBP/ ...