Potential for big move over Easter
Every now and then events come along that can significantly change markets. The US jobs report this Friday is such an event. A pivotal moment in the recovery will be when US employment increases and unemployment decreases. The US March job growth to be released Saturday morning (NZ time) – during a holiday in many parts of the world – could be strong coming after blizzards and recession and during a temporary Census employment boost. A big number (e.g. 400,000 or more new jobs) is likely to push the USD upward, and hence the NZD/USD downward, possibly sharply on the night. Nothing is certain with the future but this is one event where importers should seek cover and exporters sit back.
