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NZ Retail Sales data disappoints

Written by Andrew Isbister on February 14th, 2011.      0 comments

10:49 AM (NZT)14 Feb. NZ Retail Sales month to month data just released at -1.1%, came in slightly worse than market projections of -0.3%.
The retail sales “change” number is the total value of sales at the retail level, and it is released monthly, about 45 days after the month ends.
Retail sales data is the earliest and broadest look at vital consumer spending data, given it is the primary gauge of consumer spending, which accounts for a huge amount of the overall economic activity.
Retail sales data is very volatile. In the past 12 months the number has oscillated between negative and positive territory on a regular basis. This is in line with the uncertain path our economy continues to be on at present. NZD has weakened, but only slightly off the back of this number.
          Last 24 hours trade
  Current level Pre-NZ RS Change since NZ R   Low High
NZD/USD 0.7560 0.7585 -0.2%   0.7554 0.7643
AUD/USD 0.9995 1.0005 -0.1%   0.9962 1.0054
NZD/AUD 0.7580 0.7583 0.0%   0.7570 0.7624
AUD/NZD 1.3192 1.3187 0.0%   1.3116 1.3210
NZD/GBP 0.4735 0.4745 -0.2%   0.4708 0.4757
NZD/EUR 0.5603 0.5620 -0.3%   0.5582 0.5621
NZD/JPY 63.25 63.33 0.1%   63.11 63.70
NZD/CAD 0.7485 0.7500 -0.2%   0.7501 0.7613