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Marginally Pressured, Card Spending Rises In August

NZD

NZD/USD prints at $0.5905/10, the pair is ~0.2% lower on Tuesday.

  • The pair is marginally pressured on Tuesday as Monday's games are trimmed as ranges remain narrow this morning, losses have extended a touch as Hong Kong equities open lower.
  • AUD/NZD sits in a narrow range above the 200-Day EMA.
  • In August Card Spending rose 0.9% M/M, Retail Card Spending was 0.7% M/M higher.
  • There has been little reaction in FX markets to the Pre-election Economic and Fiscal Update. Net debt is projected to peak at 22.8% of GDP in 2024/25 and a surplus is not expected until 2027.
  • On the wires early tomorrow we have Aug REINZ House Sales and Food Prices, there is no estimate for either print.

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