NZD/USWD, AUD/NZD OUTLOOK: NZD PAIRS TRACK HEADLINE INFLATION LOWER
At first glance, the headline
inflation figures for New Zealand are very
promising indeed.
Inflation seemingly
peaked at 7.3% y/y in the June quarter, softened
slightly to 7.2% in the December quarter and has now slowed to a rate below both market and the RBNZ’s forecast of
7.1% to 6.7% y/y.
CPI also
slowed to 1.2% q/q (its lowest rate in eight months). Given Q4 figures were only slightly beneath the peak and did not capture the impact of cyclones, there were some concerns that inflation could remain sticky above 7%, so traders were
quick to short NZD across the board when it came in below expectations...(full story)
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