New Zealand Q4 GDP and Australian Employment data both coming up
2145 - NZ Q4 GDP
- For the q/q, expected is +0.7%, prior +0.9%
- For the y/y expected is +2.1%and prior was +2.3%
NZD has caught a bid in the wake of the FOMC Dovey stuff, it should remain supported if the GDP doesn't disappoint, but if it does then it'll get us chattering again about RBNZ rate cuts and the woes of the dairy industry.
From Australia, and I'll have a bit more coming up on this, its JobsLotto day. 2015 was a banner year for jobs growth in Australia, the best in a decade or so. There are reasonable expectations for some 'give back' in the data in coming months, its not all roses and its never a straight line up, and indeed we've already had a dip in the employment numbers for the first month of the year. For today, though, consensus expectations are for more growth.
February figures coming up, due at 0030GMT
- Employment Change: expected +13.5K, prior -7.5K
- Unemployment Rate: expected 6.0%, prior 6.0%
- Full Time Employment Change, prior was -40.3K
- Part Time Employment Change, prior was +32.8K
- Participation Rate, expected is 65.2%, prior was 65.2%
