Global Themes


Kiwis spending down in third quarter

Retail Sales growth at slower pace.

NZ Retail Sales data for last quarter showed a 0.2% quarterly increase after a previous strong 1.8% rise. Delving into the data it looks like households tightened their wallets on big ticket items with all the election uncertainty and slowdown in house spending. The data doesn't bode well as we head into the busy Xmas period.

Eurozone economic data continues to improve with strong manufacturing data overnight from Germany and France. Overall Eurozone PMI (Purchasing Manager's Index) rose to its highest level since 2011.

Kiwi finding some support in short term

NZD/USD main improver.

The NZD/USD found a little support this week around the .6800 level and has rebounded slightly. Importers with orders in place have benefited this week and looks to be a good strategy for short term payments as we head into the home stretch of 2017.

NZD/AUD is still sitting around the .9000 level for now but has failed to sustain and rebound higher. Again, orders in place for these spikes looks to be a good strategy.

NZ Trade balance out today

Figures for October due at 10.45am.

Outside of the Trade Balance data there is not much in the way of major international data releases to end the week.

Next week the focus will be on US GDP and European inflation data releases.

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