XE Data Update - NZ 3Q Retail Sales Release

NZ Retail Sales for 3Q have just been released.

They came in notably better than expected.

Real Retail Sales on quarter +1.6% (Consensus +0.5%)

Actual (seasonally adjusted) retail sales rose 4.5% on the year.

Electrical and electronic goods retailing has the largest rise, up 4.4% after increasing 5.2% in the June quarter.

Statistics NZ stated “higher electronic sales volumes in the quarter coincided with some retailers promoting sales of big screen televisions before the Rugby World Cup in Japan, which started near the end of September.”

The NZD is higher in immediate response.

Current indicative levels are:

NZDUSD 0.6405 / 0.6430
NZDAUD 0.9455 / 0.9480
NZDEUR 0.5815 / 0.5840
NZDGBP 0.4965 / 0.4990
NZDJPY 69.80 / 70.05
NZDCAD 85.25 / 85.50

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