The New Zealand Q2 Terms of Trade Index
- expected -2.5%
- prior was +1.2%, revised from +1.4%
NZ data is often a few seconds late ... like today's. Still, if you're an NZ exporter it was worth the wait.
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NZD a little higher in the wake of the release, not a lot in it as yet:
Via Stats NZ:
- Export prices rising more than import prices
- Exported goods prices rose 2.1% q/q
- "Although dairy prices were up in the June quarter, helped by a weaker dollar, they are 28 percent lower than in the March quarter last year" prices manager Chris Pike said. "Excluding dairy, export prices fell about 0.1 percent in the June 2015 quarter."
- The rise in dairy prices in the June 2015 quarter follows four quarterly decreases
- Seasonally adjusted dairy volumes fell, while their value fell 1.8 percent to $2.8 billion in the June quarter
- Prices for dairy product exports can be set some time in advance
- The global dairy trade index (traded in US dollars) has fallen since March, with significant falls in July and the first half of August, before regaining some ground in mid-August
- Seasonally adjusted export volumes fell 0.2 percent in the June 2015 quarter
- Imported goods prices rose 0.7 percent in the June 2015 quarter, and seasonally adjusted import volumes rose 0.4 percent
- Excluding petroleum, import prices fell 0.3 percent and volumes fell 0.4 percent
