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New Zealand Economy +0.7% in 1st Quarter; NZDUSD Rose to 0.7090

Posted by Chris Advincula on Jun 16, 2016 2:56:31 AM

(Jun 16 Thursday) The New Zealand 1st quarter GDP rose a seasonally adjusted +0.7 percent versus the median estimate of +0.6% against the prior quarter and +2.8% on the year versus the median estimate of +2.6%. The GDP showed the first quarter growth as high migration boosted spending combined with strong earnings from the tourism industry in the first quarter. 

The new zealand dollar rose to the intraday high of 0.7093 from 0.7030 (+63 pips) following the better-than-expected GDP data.

NZDUSD.6.16.2016..jpg

 

 

 

Topics: Forex Fundamentals, New Zealand, Forex, NZDUSD, New Zealand GDP

 

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