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NZ Q1 Retail Sales Release

NZ Retail Sales for Q1 have just been released.

They came in better than expected.

Real Retail Sales on quarter +0.7% (Consensus +0.6%)

When the effects of price changes are included, the seasonally adjusted value of total retail sales rose a modest 0.2%. This comes after a strong 1.8% rise in the December 2018 quarter.

Higher spending at department stores and on hardware and building supplies were noted as boosting overall retail spending for the March quarter.

The NZD is little changed in immediate response.

Current indicative levels are:

NZDUSD 0.6500 / 0.6525
NZDAUD 0.9440 / 0.9465
NZDEUR 0.5820 / 0.65845
NZDGBP 0.5110 / 0.5135
NZD-JPY 76.00 / 76.25

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