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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
NZD
NZD/USD posted an unimpressive 10 pip knee-jerk higher in reaction to the release of in-line inflation figures for the first quarter. The rate has lost some altitude since and last trades at $0.7164, 10 pips worse off on the day.
- New Zealand's annual rate of inflation rose to +1.5% from +1.4%, while the quarterly rate registered at +0.8% after printing at +0.5% in Q4.
- The figures matched market expectations, but slightly missed the RBNZ's forecasts from the latest MPS. Consumer prices were projected to rise 1.7% Y/Y & 1.0% Q/Q in the first quarter.
- Stats NZ flagged that housing and transportation costs were the main drivers behind the quarterly rise in prices.
- The RBNZ will release their preferred metric of core inflation (sectoral factor model) at 15:00 NZST/04:00 BST.
Fig. 1: New Zealand CPI Y/Y (%)*
Source: MNI - Market News/Bloomberg
*shaded region indicates the RBNZ's inflation target
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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