1Q CPI for New Zealand
The NZ 1Q CPI came in a touch better at 0.5% vs 0.4%
- The YoY was as expected at 1.1% vs 1.1% expected
- The last quarter came in at 0.1% with the YoY at 1.6%
- Q1 non-tradable's +0.9% QoQ
- Nontradable's YoY 2.3%
The NZDUSD moved higher as the initial reaction. The price moved to the 200 hour MA at 0.7343 (the high reached 0.7342). The 100 hour MA is at 0.7349. The underside of the trend line is at that level.
Traders are leaning against the area on the test.
