The post New Zealand Dollar drifts lower below 0. 5650 as China’s Trade Surplus narrows com. The NZD/USD pair attracts some sellers near 0. 5620 during the Asian trading hours on Friday. The New Zealand Dollar (NZD) weakens against the US Dollar (USD) after a narrowing of China’s trade surplus in October and a weak New Zealand jobs report. Traders brace for the flash U-Mich Consumer Sentiment survey later on Friday. Data released by the General Administration of Customs of the People’s Republic of China on Friday showed that China’s trade surplus came in at $90. 07 billion in October versus $90. 45 billion prior. This figure came in below the forecast of $95. 60 billion. Meanwhile, Exports rose by 1. 1% year-over-year in October, missing expectations for a 3. 0% gain. Imports increased 1. 0% year-over-year in October, compared to 7. 4% in September, below the market consensus of 3. 2%. A narrowing of China’s trade surplus in October could weigh on the China-proxy Kiwi, as China is a major trading partner for New Zealand. Additionally, New Zealand’s Unemployment Rate climbed to 5. 3% in the third quarter (Q3), the highest level since 2016. The weak jobs report sealed the case for a rate cut from the Reserve Bank of New Zealand (RBNZ) this month, which exerted some selling pressure on the NZD. Most economists expect another 25 basis points (bps) reduction at the final meeting of the year on November 26. US Challenger jobs data indicated a spike in US job cuts, suggesting a possible cooling in US labor market conditions. The Challenger report showed that companies cut over 150, 000 jobs in October, marking the biggest reduction for the month in more than 20 years. Traders ramped up bets on a rate cut following US Challenger jobs data, which weighed on the Greenback against the NZD. Trading in Fed funds futures implies a 70% possibility of a reduction at the US central bank’s next meeting, up from a 62% probability a day.
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The Trump administration left an immigration expert floored after deporting a woman who had gone to the police to secure justice against her husband for leveling death threats despite Congress having created a visa program explicitly to protect people in that precise situation. The case, originally reported by the Los Angeles Times, concerns an undocumented woman known only as “Carmen. Carmen’s abusive husband came home drunk one night last summer. He pounded and kicked the door. He threatened to kill her as her young son watched in horror. She called police, eventually obtaining a restraining order. Months later he returned and beat her again. Police came again and he was eventually deported,” reported Rachel Uranga. “Thinking she finally escaped his cruelty, Carmen applied for what is known as a U-Visa. The visa provides crime victims a way to stay in the United States legally.”However, according to the report, that application was left to gather dust and then, “During a regular immigration check-in in June, Carmen was detained. Two months later, she was put on a plane with her 8-year-old son, who just completed second grade. She was headed to her home country, terrified her husband would find her.”Carmen, according to the report, is one of several deportees represented by a group of lawyers who in October “sued the Trump administration in the Central District of California for detaining and deporting survivors with pending visa applications, some of whom have been granted status to stay and sometimes work.”A number of deportation cases under the Trump administration have triggered public outrage, one of the most high-profile being Kilmar Abrego Garcia of Maryland, who was shipped off to the infamous Salvadoran CECOT megaprison despite a court order prohibiting his deportation to that country, then after months was repatriated only for the administration to slap dubious gang charges on him and shop around for a deal for any other country to accept him.
New York Attorney General Letitia James, Connecticut Attorney General William Tong and 20 other attorneys general have filed a lawsuit in U. S. District Court for the District of Massachusetts against the U. S. Department of Education and Linda McMahon in her official capacity as secretary of the Department of Education. McMahon used to be CEO of [.] The post AGs James, Tong other sue Linda McMahon and her department appeared first on Westfair Communications.
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