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NZ CPI In Line At 4%, NZD & Rates Higher

DATA REACT

The NZD has ticked higher after NZ CPI came in line with expectations, at 4% the weakest since mid-2021, NZGBs yields rise 6-7bps, equities down 0.16%

  • Housing and household utilities was the largest contributor to the annual inflation rate. This was due to rising prices for rent, construction of new houses, and rates.
  • NZD/USD has strengthened, initially falling to 0.5861 after an incorrect data release the currency is now testing 0.5900 rising from 58.86 prior to CPI release
  • AUD/NZD has broken the 20-day EMA of 1.0880 and now testing the Apr 15 lows of 1.0863
  • NZD/JPY has broken above Tuesday's highs of 91.171, reaching a high of 91.265, rising from 91.00 prior
  • (BBG) New Zealand Inflation Slows to Weakest in Almost Three Years - (See Link)
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