New Zealand data - ANZ World Commodity Price Index fell 2.6% m/m in July (prior -1.7%)

The ANZ World Commodity Price Index fell 2.6% m/m in July

• in June it fell 1.7%
• In local currency (New Zealand dollar) terms the index fell 3.8% m/m, as the NZD NZD The New Zealand Dollar (NZD) is the official currency of New Zealand and the tenth most traded currency in the world. Also referred to as the Kiwi, the currency is also utilized in several Pacific islands, including Tokelau, the Cook Islands, Pitcairn islands, and Niue.The NZD’s history is long, extending back to 1934 with the creation of the Reserve Bank of New Zealand. While far from the most traded currency in the global forex market, the NZD has a key role nonetheless.The NZD is considered a The New Zealand Dollar (NZD) is the official currency of New Zealand and the tenth most traded currency in the world. Also referred to as the Kiwi, the currency is also utilized in several Pacific islands, including Tokelau, the Cook Islands, Pitcairn islands, and Niue.The NZD’s history is long, extending back to 1934 with the creation of the Reserve Bank of New Zealand. While far from the most traded currency in the global forex market, the NZD has a key role nonetheless.The NZD is considered a Read this Term appreciated 1.2% in Trade Weighted Index terms

ANZ cite meat, dairy and aluminium prices all falling as global demand for these commodities Commodities Commodities are assets that are either naturally grown or occurring in the environment. Most commonly this includes precious metals such as gold, silver, and palladium.Beyond metals, commodities can also focus on agricultural or industrial goods that are central to manufacturing or other sectors. This includes crude oil, copper, wheat, and others.Relative to other assets, commodities are an extremely complex form of investment, with many similarities and differences to existing products.Commodit Commodities are assets that are either naturally grown or occurring in the environment. Most commonly this includes precious metals such as gold, silver, and palladium.Beyond metals, commodities can also focus on agricultural or industrial goods that are central to manufacturing or other sectors. This includes crude oil, copper, wheat, and others.Relative to other assets, commodities are an extremely complex form of investment, with many similarities and differences to existing products.Commodit Read this Term weakened further.

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As part of this monthly report ANZ look at global shipping prices:

• Global shipping price movements were mixed in July. The Baltic Dry Index lifted during the month, whilst the Harper Peterson Global Index and the China Containerised Index both eased. Shipping prices are expected to remain relatively soft due to tighter global economic conditions reducing demand for goods, but any increase in fuel prices could put upward pressure on global shipping prices once again.

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The ANZ New Zealand Commodity Price Index is a measure of the overall price movements of New Zealand's key commodity exports. It is published by ANZ Bank on a monthly basis and is based on price data collected from a range of sources, including industry organizations, government agencies, and commodity exchanges.

The index tracks the prices of 17 of New Zealand's major commodity exports, including dairy products, meat, wool, forestry products, and seafood. These commodities make up a significant portion of New Zealand's total exports and are important drivers of the country's economy.

The ANZ New Zealand Commodity Price Index is calculated using a weighted average of the prices of each commodity, with the weightings based on each commodity's share of New Zealand's total commodity exports. The index is expressed in both New Zealand dollars and US dollars, and is seasonally adjusted to account for fluctuations in supply and demand.