New Zealand CPI data for 3Q 2020.

  • prior report
  • CPI q/q 0.7%
  • expectations +0.9% q/q, prior -0.5%
  • CPI y/y 1.4%
  • expectations +1.7% y/y, prior +1.5%

The NZDUSD was trading at 0.6677 prior to the release. The miss to the downside has sent the pair down to 0.6665 in the initial reaction.

Apart from the 1st quarter in 2020 and the 1st quarter in 2017, the CPI inflation has been below the 2.0% target level.

New Zealand CPI data for 3Q 2020._