Published: 2024-07-15T04:50:32.000Z
NZD/USD flows: Contracting Service PMI
FX Analyst
2
New Zealand June services PMI 40.2 (prior 43.0)
The NZ Service PMI continue to contract in June from 43 to 40.2. It seems to confirm the shift in rhetoric from the RBNZ which indicates that likely Q2 CPI will tread lower and closer to their inflation forecast. Regional sentiment is also tilted to the downside.
NZD/USD never managed to close the opening gap and is trading 0.33% lower at 0.6098.