Skip to content
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.

0

Notifications

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

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
More View more
New Zealand Dollar Climbs as GDP Narrowly Beats Expectations

New Zealand Dollar Climbs as GDP Narrowly Beats Expectations

Daniel Dubrovsky, Strategist

Talking Points:

  • 3Q New Zealand GDP narrowly beats expectations
  • NZD/USD rallied after the data crossed the wires
  • Economy growthbeat NZIER quarterly forecasts

Find Key Turning Points for the New Zealand Dollar with DailyFX SSI

The New Zealand Dollar edged higher against its US counterpart after the island nation’s third quarter gross domestic product crossed the wires. The data showed that the country’s economy grew 0.9 percent (QoQ) in the third quarter of 2015 beating the 0.8 percent forecasted by economists. This was also the fastest pace of quarterly growth in one year. On a yearly basis, the country’s GDP grew 2.3 percent which is in line with analysts’ expectations.

This past Monday, New Zealand’s Institute of Economic Research (NZIER) published its quarterly consensus forecast. It predicted that the island nation’s economy would expand 0.6 percent (QoQ) in the third quarter of 2015. Today’s GDP release beat that estimate as well.

Last week the Reserve Bank of New Zealand signaled an end to near-term easing. Today’s in-line GDP release likely did little to alter-near term monetary policy expectations. Indeed, New Zealand government bond yields were relatively flat after the event. Overnight index swaps are pricing in no adjustments to the central bank’s official cash rate at its next meeting in January.

New Zealand Dollar Climbs as GDP Narrowly Beats Expectations

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

DISCLOSURES