Substantial drop for the NZD on CPI data coming in much lower than expected
Inflation data is here: New Zealand Q1 CPI : 0.1% q/q (expected 0.3% and 1.5% y/y (expected 1.7%)
Much, much lower than the central estimate.
NZD/USD was marked lower immediately:
Sellers in the kiwi will be present further on any relief pop from here
AUD/USD dropped a few points also. not nearly as much.
ps. We got a further CPI measure from NZ later today - core inflation from the RBNZ: