NZ data - ANZ's Commodity Price index for February: -2.1% m/m (prior -0.9%)

Tracks prices for New Zealand's 17 main commodity exports

+0.6% y/y (fropm 5.6% in January - revised figure)

ANZ say the virus outbreak in China is only partilly captured in the month's results - which is code for further fal;l;s to come

In NZD terms (which is what matters to local producers in NZ)

• +0.9% m/m
• +7.1% y/y

reflecting the weaker NZD