XE Data Update - NZ 2Q Retail Sales Release

NZ Retail Sales for 2Q have just been released.

They came in not quite as terrible as expected.

Real Retail Sales 2Q -14.6% (Consensus -16.3%)

This is the biggest drop on record but was not that unexpected due to the COVID-19 lockdown during the period.

Unsurprisingly, spending on eating out, accommodation away from home, vehicles, and fuel all fell sharply. This was only partly offset by strong supermarket and grocery sales.

The NZD is marginally higher in immediate response.

Current indicative levels are:

NZDUSD 0.6530 / 0.6555
NZDAUD 0.9115 / 0.9140
NZDEUR 0.5530 / 0.5555
NZDGBP 0.4985 / 0.5010
NZDJPY 69.15 / 69.40
NZDCAD 86.05 / 86.30

© Scoop Media