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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