New Zealand CPI q/q comes in at 1.5% against 0.6% consensus
| Pair | Now | Since publish |
|---|---|---|
| NZDUSD | — | — |
New Zealand’s Consumer Price Index quarter over quarter was released at 1.5%. This figure significantly exceeded the consensus expectation of 0.6%. The previous quarter’s reading was 0.9%. The actual print represented a 150.0% surprise compared to the consensus forecast.
Following the release, the New Zealand dollar showed a mixed reaction against major currencies over the first 15 minutes. AUDNZD moved -15 pips, EURNZD moved -27 pips, and GBPNZD moved -29 pips. Conversely, NZDCAD gained +12 pips, NZDCHF gained +15 pips, NZDJPY gained +16 pips, and NZDUSD gained +9.8 pips. These initial moves are generally smaller than the median 1-hour moves observed after past releases, for example, NZDUSD’s median 1-hour move is 12 pips, and AUDNZD’s is 21 pips.