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Daily Alert: NZD recovers over the long weekend

  • USD slumped on Friday after US Non-farm Payrolls for May showed employment expanded by less than expected; US Non-farm Payrolls (employment) rose by 559,000 in May (survey: +675,000), however, the unemployment rate still fell from 6.1% to 5.8% (survey 5.9%).
  • US sharemarkets climbed to near all-time highs on Friday, pushed higher by gains in technology shares.
  • Meanwhile, the local sharemarket gained 0.8% last week, but remains 8% off its peak set back in January and the local 10-year yield was little changed on week-ago levels.

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