HiFX Data Update - NZ Q2 Retail Sales Release

HiFX Data Update - NZ Q2 Retail Sales Release

NZ Retail Sales numbers for Q2 have just been released.

They came in considerably better than expected:

Adjusted Retail Sales Volume (Q2) +2.0% (Consensus +0.7%)
Adjusted (Core) Retail Sales Value +1.8% (Consensus +0.8%)

Actual Q2 Retail Sales rose 5.4% compared with same quarter last year (4.6% forecast). I expect the Lion’s supporter’s spending would have impacted these figures.

Q1 figures were revised higher to +1.6% from +1.5%.

The NZD is a higher in immediate response.

Current indicative levels are:

NZD-USD 0.7310 / 0.7335
NZD-AUD 0.9265 / 0.9290
NZD-EUR 0.6180 / 0.6205
NZD-GBP 0.5615 / 0.5640
NZD-JPY 79.80 / 80.05
NZD-CAD 0.9270 / 0.9295

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