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NZD Weekly Review (Jan. 11 – 15)

NZD Weekly Review (Jan. 11 – 15)

Partner Center Find a Broker The Kiwi fell to the bottom of the rankings this week despite a few positive economic updates from New Zealand. I

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The Kiwi fell to the bottom of the rankings this week despite a few positive economic updates from New Zealand. It’s likely risk aversion was the main driver for the weakness, and possibly on fresh updates on the recent RBNZ hack.

Overlay of NZD Pairs: 1-Hour Forex Chart
Overlay of NZD Pairs: 1-Hour Forex Chart
NZD Weekly Performance from MarketMilk
NZD Weekly Performance from MarketMilk

New Zealand Headlines and Economic data

Monday:

New Zealand Central Bank Says Data System Hacked

“A third party file sharing service used by the Reserve Bank of New Zealand to share and store sensitive information had been illegally accessed, the Wellington-based bank said in a statement.”

“It’s unclear when the breach took place or if there were any indications of who was responsible, and in what country is the file sharing service based.”

Wednesday:

New Zealand ANZ commodity prices up by 1.8% – “In local currency terms the index fell 0.9%, as the Trade Weighted Index (TWI) gained 1.8%. The NZD strengthened in December against the currencies of all our main trading partners except the Australian dollar”

Thursday:

New Zealand building permits climb 1.2% in November; this follows an upwardly revised 8.9% rise in October.

Friday:

New Zealand food price index saw 0.1% uptick after earlier 0.9% drop

  • fruit and vegetable prices rose 1.4 percent (up 0.9 percent after seasonal adjustment)
  • meat, poultry, and fish prices fell 0.3 percent
  • grocery food prices rose 0.3 percent (up 0.7 percent after seasonal adjustment)
  • non-alcoholic beverage prices fell 1.7 percent
  • restaurant meals and ready-to-eat food prices rose 0.3 percent.

The Governor of the Reserve Bank of New Zealand, Adrian Orr, says the recent malicious and illegal breach of a file sharing application used by the Bank is significant

This post first appeared on babypips.com

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