CPI y/y (NZD) comes in at 4.1% against 3.9% consensus
| Pair | Now | Since publish |
|---|---|---|
| NZDUSD | — | — |
New Zealand’s Consumer Price Index, CPI y/y, was released at 4.1%. This figure came in above the consensus expectation of 3.9%, representing a 5.1% surprise relative to the consensus. The previous reading for the series was 3.1%.
The measured market reaction 15 minutes after the release showed NZD strength against most pairs. NZDUSD rose 9.8 pips, NZDJPY gained 16 pips, NZDCAD was up 12 pips, and NZDCHF increased 15 pips. Against other majors, AUDNZD fell 15 pips, EURNZD dropped 27 pips, and GBPNZD declined 29 pips. For most pairs, these movements 15 minutes after the release are currently below their respective median 1-hour moves observed after past releases. For example, NZDUSD’s 9.8 pip rise compares to a median 1-hour move of 12 pips, while GBPNZD’s 29 pip decline compares to a median 1-hour move of 38 pips.