XE Data Update - NZ 1Q Producer Price Index

The NZ 1Q Producers Price Index (PPI) for has just been released.

The PPI came in fell compared with the previous quarter.

NZ PPI 1Q (compared with 4Q):

PPI Inputs -0.3% (4Q was +0.1%)
PPI Outputs 0.1% (4Q was +0.4%)

There were no consensus forecasts published for PPI

The NZD is marginally lower in immediate response.

Fonterra’s Global Dairy Trade auction takes place overnight. But for that, the Reserve Bank of Australia will release their Monetary Policy Meeting Minutes at 1:30pm today.

Current indicative levels are:

NZDUSD 0.6030 / 0.6055
NZDAUD 0.9250 / 0.9275
NZDEUR 0.5525 / 0.5550
NZDGBP 0.4940 / 0.4965
NZDJPY 64.70 / 64.95

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