Reserve Bank of New Zealand (RBNZ) Governor Adrian Orr gave his opinion on the recently released strong Q3 NZ jobs report while speaking on the bi-annual Financial Stability Review (FSR).

“The labor market data is extremely volatile at the moment,” said the RBNZ Boss..

RBNZ's Orr also said, per Reuters, "GDP figures becoming increasingly difficult to understand given COVID-19 volatility."

Adding to that were the comments from the RBNZ Deputy Governor Geoff Bascand suggesting if risks are low, debt-to-income limitations may not be necessary.

FX reaction

NZD/USD remains inactive despite the strong data and comments from RBNZ officials as the pre-Fed trading lull dominates the market sentiment.

Read: NZD/USD stays around 0.7100 despite strong New Zealand Q3 Employment data