New Zealand data - December 2022 Building permits -7.2% m/m (prior +6.7%)

Data from Stats NZ, comment from the report:

• “The annual number of homes consented remained high but is still below the peak of 51,015 recorded in the year ended May 2022,”
• The trend for the number of new homes consented peaked in early 2022 and has decreased slightly since then. Trend estimates reveal the smooth and slowly changing features in a time series after removing varying seasonal effects. 

NZD/USD not a lot changed. The kiwi $ rose overnight after the FOMC and Powell, along with other FX against the USD.

• Forexlive Americas FX news wrap: Powell says "the disinflationary process has started"
• FOMC responses - inflation still high, more +25bp hikes ahead,