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Sunday, August 1, 2021

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

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Scorchio!

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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