NZD/USD higher after the scorchingly hot inflation data, 3.3% y/y

Author: Eamonn Sheridan | Category: News

Data is here: NZ CPI Q2 2021 1.3% q/q (vs. expected 0.8%) and 3.3% y/y (vs. expected 2.8%)


Highest in around a decade for NZ inflation. 

NZD/USD trading now above 0.7000:
New Zealand chart nzd/usd cpi
Still to come:
 0300 GMT the Reserve Bank of New Zealand releases their own preferred core inflation measure. 
  • 'Sectoral Factor Model Inflation Gauge', the Q1 was 1.9% y/y (see pic below)
  • The RBNZ target band for core inflation is 1-3%

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