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XE Data Update
NZ Business Confidence
The preliminary ANZ Business Confidence & Own Activity Outlook data for July have just been released.
The Business Confidence fell further (more negative):
-42.4% vs -31.8% (previous survey)
Firms’ Own Activity Outlook for July fell further (more negative):
-17.0% vs -8.9% (previous survey)
These are the
preliminary numbers
- final numbers
will be released towards the end of
August.
- Adds to the evidence that the post-lockdown rebound may have run its course.
- Employment and investment intentions fell as the post-lockdown bounce starts to give way to the drag from the closed border
- With temporary fiscal support measures poised to roll off in coming months, and the impacts of a closed border to be fully felt only when the peak-tourism summer season arrives, there are plenty of economic hurdles to clear yet. Today's data is indicative of exactly that.
The NZD is marginally lower in immediate response
.
Current indicative levels are:
NZDUSD 0.6590 / 0.6615
NZDAUD 0.9205 / 0.9230
NZDEUR 0.5585 / 0.5610
NZDGBP 0.5040 / 0.5065
NZDJPY 69.70 / 69.95
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