New Zealand April Trade Surplus NZ$388 Million
New Zealand posted a merchandise trade surplus of NZ$388 million in April, Statistics New Zealand said on Wednesday – up from the upwardly revised NZ$39 million surplus in March (originally NZ$38 million).
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Australian, NZ Dollars Higher On Fed s Soothing Comments
CANBERA (dpa-AFX) - The Australian and NZ dollars climbed against their major counterparts in the Asian session on Tuesday, as inflation worries receded following comments from Fed officials indicating continued policy support and considering the pick up in inflation to be transitory.
Most Asian stock markets rose, following the broadly positive cues overnight from Wall Street, as Fed officials talked down inflation risks and described the recent demand-supply disruptions as transitory.
Fed officials Lael Brainard, Raphael Bostic and James Bullard suggested that supply bottlenecks could lead to higher prices in coming months but the spike should be temporary.
Cherie Sivignon and Skara Bohny16:35, May 25 2021
Ross Giblin/Stuff
Tasman District Council is preparing for an anticipated 14 per cent increase in the population by 2031 while Nelson City Council has assumed growth of 4.5 per cent. The councils have planned for housing development accordingly.
Nelson is coming under pressure to shoulder more of the demand for housing in the Nelson-Tasman region. Tasman District Council urged the Nelson City Council to review the growth assumptions and infrastructure programme outlined in its draft Long Term Plan 2021-31 to ensure a “sufficient amount of serviced land”. The city council has assumed population growth of 4.5 per cent in the next 10 years, well below a 17 per cent increase experienced over the past decade.
Economic Buzz: New Zealand Retail Sales Up 2.5% On Quarter In Q1 May 24, 2021 8:25 IST | capital market New Zealand total volume of retail sales was up a seasonally adjusted 2.5 percent on quarter in the first quarter of 2021, Statistics New Zealand said on Monday, following the upwardly revised 2.6 percent contraction in the three months prior. By industry, the main movements were: electrical and electronic goods, up 8.4 percent; recreational goods, up 16 percent; hardware, building, and garden supplies, up 4.5 percent; and department stores, up 5.6 percent. The total value of retail sales also was up 2.5 percent on quarter ($648 million). On a yearly basis, sales rose 6.8 percent, accelerating from 4.8 percent in the three months prior.
NZD/USD forms H&S ahead of RBNZ interest rate decision
NZD/USD forms H&S ahead of RBNZ interest rate decision
The pair declined after the strong New Zealand retail sales data.
Focus shifts to the upcoming Reserve Bank of New Zealand interest rate decision.
The NZD/USD pair declined during the Asian session as worries of US inflation pushed the US dollar higher. The pair dropped to 0.7166, which was 0.80% below the highest level on Friday.
NZD/USD price action
New Zealand retail sales
New Zealand’s economy is having a robust recovery after slumping sharply in 2020 amid the global pandemic. Last week, the country revealed that the consumer price index (CPI) rose at a faster pace in the first quarter.