NZD likes the improvement in business confidence and activity
The New Zealand data is here, a big improvement
And, yes, still a ways to go. Activity improved also (at that link).
Both are coming from low bases.
ANZ comments (in brief)
- confidence up 16
- own activity up 17 points
- Other activity indicators also higher
- inflation signals remain mixed
- It's consistent with our forecast that growth will bottom out around 2%
Kiwi $ marked up on the data: