New Zealand producer price indexes for the final quarter of 2015
more to come
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Not usually an immediate FX market mover, but NZD/USD dipping a little on the lower PPIs. Soft data from NZ is being latched onto very quickly as a reason the RBNZ is going to cut rates again soon. This is despite Governor Wheeler saying last week that he will be waiting for February and March data before deciding.
We saw, for example, the NZD fall after this week's dairy auction and after lower retail sales data out Monday. Since the dip, though, the NZD has come back higher, confounding the simplistic 'soft data / sell kiwi' meme.
