NZ data - November credit card spending comes in better … and worse

New Zealand Credit Card spending for November comes in at +0.4% m/m

• prior -0.1%

But, wait a minutes, for the y/y its +6.1%

• prior was +6.3% y/y

The kiwi dollar fell earlier on the miss on GDP:

• NZ Q3 GDP +0.3% q/q vs. 0.6% expected

And it fell in past minutes on the ANZ RBNZ call:

• ANZ change their call on the RBNZ, forecast a rate cut in Nov of 2019

Overnight the rot began when the FOMC hiked. As expected, but NZD (and everything else!) got hammered.