NZD/USD flows: Mixed Jobs Report Did not Encourage Kiwi Bids

The Q4 NZ jobs report came in mixed with a headline miss on unemployment rate but stronger participation. More importantly, labor cost grew by 0.5% as expected with higher employment change. While overall it is a decent report in the details, it is insufficient to sway the RBNZ.

NZD/USD is trading 0.23% lower at 0.6031.