NZ Q1 GDP Release

HiFX Data Update - NZ Q1 GDP Release

The NZ GDP for Q1 has just been released.

The GDP for Q1 came worse than expected:

Adjusted GDP Q1/ Annual:

GDP +0.5% / +2.5% Consensus +0.7% / +2.7%

NZ GDP over the last 12 months was +3.0% (consensus was +3.0%).

The NZD is a little lower in immediate response. However, the NZDUSD remains above yesterday’s close after the release of disappointing US CPI and retail sales figures. The US Fed subsequently raised interest rates this morning, which pulled the NZDUSD down from overnight highs.

Current indicative levels are:

NZDUSD 0.7240 / 0.7265
NZDAUD 0.9535 / 0.9560
NZDEUR 0.6455 / 0.6480
NZDGBP 0.5675 / 0.5700
NZDJPY 79.20 / 79.45

ends

© Scoop Media