New Zealand Dollar Forecast: Upbeat GDP Revives NZD/USD After FOMC Drop
2021-06-16 23:00:00
Thomas Westwater,
Analyst
New Zealand Dollar, Q1 GDP, FOMC, Commodities -Talking Points
-New Zealand Q1 GDP post 2.4% rise on a year-over-year basis
-Commodity prices under pressure after Chinese intervention
-NZD/USD rebounding from 100-day Simple Moving Average
Breaking News – New Zealand First-Quarter Gross Domestic Product
New Zealand reported an impressive first-quarter gross domestic product (GDP) at 2.4% on a year-over-year basis, versus estimates calling for 0.9%. The quarterly figure crossed the wires at 1.6%, also beating expectations of 0.5%. The GDP figures represent a strong tick higher from the December quarter when a contraction of 1.0% occurred.
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