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.

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
EUR/USD
Bearish
Oil - US Crude
Bearish
Wall Street
Mixed
Gold
Bullish
GBP/USD
Bearish
USD/JPY
Mixed
More View more
Real Time News
  • ...also for those without kids or are not inherently young at heart, March 2nd is Dr. Seuss's birthday.
  • The price of gold struggles to retain the rebound from the start of the week as longer-dated US Treasury yields hold above pre-pandemic levels. Get your $XAUSD market update from @DavidJSong here:https://t.co/zE7NafvfTq https://t.co/4BxMT0iyi1
  • Uh oh. Another financial product/meme pivot. I think Elon is just a BTD kind of guy who is in tune with the social trading trends and wants to bring the retail crowd along with him. Would fit the essence of Tesla and Space X https://t.co/EP9zj1rXzU
  • Canadian #Dollar Forecast: $USDCAD Bears Fail at Support- March Levels - https://t.co/XkyFns8odx https://t.co/8Q4Tu0viz0
  • I feel the LaserEyes trend is a more effective social spread because of the visual impact. Kind of disappointed the community hasn't gotten a more tangible visual cue for BTD / BTFD. Or maybe there is one and I'm just behind the trend....which happens a lot recently
  • Forex Update: As of 21:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.87% 🇨🇦CAD: 0.78% 🇳🇿NZD: 0.45% 🇪🇺EUR: -0.19% 🇯🇵JPY: -0.20% 🇨🇭CHF: -0.70% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/U3yK9hfDka
  • Commodities Update: As of 21:00, these are your best and worst performers based on the London trading schedule: Silver: -0.35% Oil - US Crude: -0.37% Gold: -0.50% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/7dEtLof6us
  • The price of oil extends the series of lower highs and lows from the February high ($63.81) ahead of the (OPEC) (JMMC) meeting on March 3. Get your #crudeoil market update from @DavidJSong here:https://t.co/6hjIL77koa https://t.co/h2gQHVFvaB
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 91.57%, while traders in GBP/JPY are at opposite extremes with 66.37%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/nb2pDL6nuW
  • Indices Update: As of 21:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 0.38% France 40: 0.24% Germany 30: 0.23% US 500: 0.00% Wall Street: -0.01% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/VRWeokQ9gk
New Zealand Dollar Unimpressed by Upbeat GDP Data

New Zealand Dollar Unimpressed by Upbeat GDP Data

Varun Jaitly,

Talking Points:

  • Quarter-over-quarter GDP grew 1.1%, better than expected
  • Year-over-year GDP grew 3.5%in the third quarter of 2016
  • Business services, manufacturing and households led growth

See what live coverage is scheduled for key event risk in the FX and capital markets on the DailyFX Webinar Calendar

The New Zealand Dollar spiked momentarily following the release of the country’s third quarter GDP data but it quickly returned to pre-event levels. Quarterly growth was upbeat at 1.1 percent, better than expectations for 0.7 percent. Year-over-year, GDP grew 3.5 percent, missing analyst expectations for 3.6 percent growth.

Growth over the reporting period was benefited by a 2 percent increase in business services and a 3.7 percent increase in transportation. Manufacturing and construction also saw strength, increasing by 1.2 and 2.1 percent respectively. The data released by New Zealand’s statistics agency noted that 13 of the 16 GDP industries saw growth over the reporting period.

Gross domestic expenditures also grew 1.4 percent, benefiting from a 1.6 percent increase in fixed asset investments such as real estate. Household consumption, which accounts for $150 billion of the $255 billion economy, increased by 1.6 percent. Imports increased 1.2 percent and were accompanied by a 0.7 percent decrease in exports.

New Zealand Dollar Unimpressed by Upbeat GDP Data

Chart created using TradingView

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

DISCLOSURES