The special vote count from the Sept 23 general election was released on Saturday and showed the ruling National party losing 2 seats to a potential Labour/Greens/NZ First coalition. With 56 seats out of 120, National would need to lure NZ First’s 9 seats to its side to remain the government.
Earlier, NZDUSD had responded to the US employment data, falling to .7057 then coming back to close at .7090 as the USD gave back some of its gains.
What got USD traders excited – for a while – was the average hourly earnings number: up 2.9% year on year (see chart below)
Note the disconnect with the inflation numbers. Something’s gotta give .........
My NZDUSD trade recommendation from Friday was filled (just) and remains in play.