Electronic Card Retail Sales m/m comes in at 1.3% against -0.3% consensus
| Pair | Now | Since publish |
|---|---|---|
| NZDUSD | — | — |
New Zealand’s Electronic Card Retail Sales month over month came in at 1.3% for the latest period. This figure significantly exceeded the consensus expectation of -0.3%. The actual print also marked a notable improvement from the previous month’s reading of -1.4%. The surprise against consensus was 533.3%.
Following the release, the New Zealand dollar showed varied movement against major pairs after 15 minutes. NZDUSD was up 1.1 pips, while NZDJPY was down 4.9 pips. AUDNZD moved up 0.7 pips, EURNZD up 1.5 pips, and GBPNZD up 1.6 pips. NZDCAD was up 0.6 pips, and NZDCHF was down 0.2 pips. These initial moves are generally smaller than the median 1-hour moves observed after past releases. For example, NZDUSD typically sees a median 1-hour move of 3 pips, and NZDJPY typically sees 4 pips. EURNZD’s median 1-hour move is 5 pips, and GBPNZD’s is 8 pips.