Published: 2024-07-17T03:32:43.000Z
NZD/USD flows: Sell the lower CPI fact
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FX Analyst
2
New Zealand Q2 CPI 0.4% q/q (expected 0.5%), 3.3% y/y (expected 3.4%)
The Q2 New Zealand CPI has come in lower at 0.4% q/q and 3.3% y/y as suggested by RBNZ last week. The RBNZ's own sectoral factor model also shows a moderation to 3.6% from 4.2% y/y. The Kiwi is trading stronger as CPI remains above target range and selling the fact after expectation built up after RBNZ's meeting.
NZD/USD is up 0.37% at 0.6070.