Summary: New Zealand quarterly retail sales rise 1.1%, above estimates of 0.4% Annual retail sales rise 3.1% Better than expected retail sales raises prospects of a stronger Q2 GDP growth The latest retail sales report from New Zealand covering the second quarter showed an upbeat outlook for the activity. Retail sales surged more t...
Daily Forex Market Preview - 09/08/2018 The U.S. Dollar was on the back foot on Wednesday. China is set to hit the U.S with fresh trade tariffs of the amount of $60 billion. The market reaction was however largely muted. [shortcode-variables slug="learn-forex-basics"] The British Pound was hit by a bout of negative sentiment. The currency...
The latest quarterly statistics on the employment front for New Zealand showed that the nation's jobless rate inched higher. Meanwhile, dull wage growth remained but pressures from strikes across the different sectors are expected to boost wage growth eventually. [shortcode-variables slug="learn-forex-basics"] Data released last week by th...
The week ahead is expected to start somewhat slower compared to the previous week, as data on the economic calendar is rather limited. The RBNZ’s monetary policy meeting is due this week, which is likely to gather attention amid lack of any other fundamentals to fall back on. No changes are expected to the overnight cash rate, but investors w...
June CPI in New Zealand was a mixed bag, with both the quarter on quarter reading and year on year reading printing below expectations at 0.4% vs 05% expected and 1.5% vs 1.6% expected, respectively. While the figures are still low, inflation is showing positive trajectory with the annual figure having increased from 1.1% over the prior reading ...
Daily Forex Market Preview, 28/06/2018 The RBNZ's monetary policy meeting held in the overnight session showed that the central bank left the overnight cash rate unchanged at its meeting as widely expected. The New Zealand dollar was seen falling sharply on the RBNZ’s decision as a result. The day ahead is relatively quiet with the U.S....
The markets head into the final week of the third quarter of the year. The economic calendar is relatively light over the course of the week. GDP reports make the major theme as the U.S. and the UK will be reporting on the final revised GDP numbers for the first quarter. Elsewhere, Canada will be releasing its monthly GDP numbers. Data from t...
While the New Zealand Dollar has been out of the limelight over recent months given the tide of hawkishness sweeping across central banks elsewhere in the G10 bloc, focus was once again on the antipodean currency yesterday. Speaking during an interview with a domestic broadcaster, RBNZ assistant governor John McDermott caught the market offsi...
Summary: RBNZ leaves OCR unchanged at 1.75% at the monetary policy meeting in May Interest rates left unchanged for the nineteenth consecutive month RBNZ gives fresh economic forecasts. Downgrades GDP and inflation RBNZ pursues dual mandate of employment and price stability The Reserve Bank of New Zealand held its monetary polic...
The first quarter unemployment data was released by Statistics New Zealand last week. According to official data, the New Zealand unemployment rate fell to a nine-year low in the first three months of the year ending March 2018. The positive data added to the view that maybe New Zealand's sluggish labor market was eventually picking up. The u...
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