New Zealand Treasury's December activity index +1.5% y/y

New Zealand data

Treasury highlight their 'key points'

• Activity in December is around 1.5% up on same month last year.
• The ANZ Activity Outlook is at its highest level since March 2018.
• The number of jobs advertised on SEEK recovered to last year's levels for the first time since the emergence of COVID.

Earlier from NZ, higher than expected inflation and a change in expectations for the RBNZ:

• New Zealand inflation for Q4 2020: CPI 0.5% q/q (expected 0.2% q/q, prior 0.7%)
• TD is looking for a weaker EUR/USD - trade recommendation