New Zealand kicks off the data day in Asia with Q2 GDP figures due at 2245GMT
Yesterday we had the current account come in at an upside surprise (link to NZ current account data … oh … and who were those guys calling for the NZD to go much higher?), and strong numbers there most often indicate an upside bias for GDP.
- Economist forecasts for the GDP today are for +0.2% q/q and +2.3% y/y
- Priors were +0.3% q/q and +2.4% y/y
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The NZD has had a huge move and is now running up into an area where it should find some resistance/selling:
Comments welcome
