News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
Oil - US Crude
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
New Zealand Credit Spending Rises, Kiwi Little Moved

New Zealand Credit Spending Rises, Kiwi Little Moved

Max Oltersdorf,

THE TAKEAWAY: New Zealand releases January card spending numbers > Card spending 1.2%> [NZD rises slightly]

On February 9th, the New Zealand government announced that January card spending had increased by 1.0% MoM, the latest in a string of economic indicators pointing to a tepid economic recovery. The official numbers beat the consensus estimate of 0.7% month-over-month growth. This implies that, although the New Zealand economy is still growing slowly, it is doing so quicker than analyst estimates. Retail card spending was also up 1.2%, beating the consensus of 0.5% MoM growth.

New_Zealand_Credit_Spending_Rises_Kiwi_Little_Moved_body_hwethun4.png, New Zealand Credit Spending Rises, Kiwi Little Moved

Charts Generated Using FXCM Strategy Trader

The Kiwi was slightly up against the dollar, as the news, although beating estimates, was of negligible impact. However, the Kiwi has gained in recent days after last week’s trade surplus increased by an unexpected amount, showing the strength of the manufacturing economy in New Zealand. A host of economic indicators point to the fact that New Zealand is in a decent position to weather global financial storms and therefore, the Kiwi, unlike both the Euro and the Greenback, is not at risk of substantial depreciation relative to competing currencies.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.