New Zealand's Performance of Services Index for April came in at 47.1, slightly lower than the previous month. Food prices in New Zealand increased by 0.6% in April compared to the previous month. Additionally, inflation expectations for two years declined to 2.33%, the lowest in almost three years, leading to speculation of potential interest rate cuts. House sales in New Zealand saw a significant rise of 25.3% year-on-year in April. Net migration in New Zealand decreased to 4,910 in March, and electronic card retail sales saw a decrease of 3.8% year-on-year in April.
NEW ZEALAND (MAR) NET MIGRATION SA ACTUAL: 4910 VS 7630 PREVIOUS
New Zealand Card Spending Total (M/M) Apr: 0.9% (prev 0.1%) - Card Spending Retail (M/M) Apr: -0.4% (prev -0.7%)
NEW ZEALAND VISITOR ARRIVALS MOM ACTUAL 4910 (FORECAST -, PREVIOUS 7,630) $MACRO
🇳🇿 New Zealand Permanent/Long-Term Migration (Mar) $NZD Actual: 4,910 Previous: 6,330
🇳🇿 New Zealand Electronic Card Retail Sales (YoY) (Apr) $NZD Actual: -3.8% Previous: -2.3%
🇳🇿 New Zealand External Migration & Visitors (Mar) $NZD Actual: 27.90% Previous: 35.00%
NEW ZEALAND (APR) REINZ HOUSE SALES (YOY) ACTUAL: 25.3% VS 8.0% PREVIOUS
New Zealand REINZ House Sales (Y/Y) Apr: 25.3% (prev 8.0%)
New Zealand inflation expectations fell to their lowest level in almost three years, supporting investor bets that the central bank will be able to start cutting interest rates later this year. The kiwi dollar dipped. https://t.co/2WaFw154U7
New Zealand inflation expectations fell to their lowest level in almost three years, supporting investor bets that the central bank will be able to start cutting interest rates later this year The kiwi dollar dipped. https://t.co/qrgSOH1lWv
🇳🇿 New Zealand Inflation Expectations (QoQ) $NZD Actual: 2.3% Previous: 2.5%
KIWI DROPS BY 0.2% AS INFLATION EXPECTATIONS FOR 2 YEARS DECLINE
NEW ZEALAND 2Q TWO-YEAR INFLATION EXPECTATIONS AT 2.33%
New Zealand 2-Year Inflation Expectations Q2: 2.33% (prev 2.50%)
🇦🇺 Australia NAB Business Confidence (Apr) $AUD Actual: 1 Previous: 1
AUSTRALIA (APR) NAB BUSINESS CONDITIONS ACTUAL: 7 VS 9 PREVIOUS
AUSTRALIA (APR) NAB BUSINESS CONFIDENCE ACTUAL: 1 VS 1 PREVIOUS
Australian NAB Business Confidence Apr: 1 (prev 1) - NAB Business Conditions Apr: 7 (prev 9)
New Zealand Food Prices (M/M) Apr: 0.6% (prev -0.5%)
🇳🇿 New Zealand FPI (MoM) (Apr) $NZD Actual: 0.6% Previous: -0.5%
🇳🇿 New Zealand Performance of Services Index $NZD Actual: 47.1 Previous: 47.5
New Zealand Performance Services Index Apr: 47.1 (R prev 47.2)
NEW ZEALAND (APR) PERFORMANCE SERVICES INDEX ACTUAL: 47.1 VS 47.5 PREVIOUS