NZD traders - heads up for the GDT dairy auction coming up Tuesday 19 October 2021

GlobalDairyTrade (GDT) auction begins at midday in London on Tuesday

• the results will come out in the hours following

Previous results:

Expectations I have seen centre on a small gain for whole milk powder prices.

Dairy is a huge export from New Zealand. If you are trading the NZ dollar it pays to be aware of price movements. NZD has an underlying bid at present from expectations for further RBNZ rate hikes, cemented further yesterday by the blockbuster inflation report.

• New Zealand Q3 CPI 2.2% q/q (vs. expected 1.4% q/q)
• Surging NZ CPI will prompt an "even more aggressive hiking cycle" from the RBNZ
• RBNZ measure of core inflation is 2.7% y/y (data delayed by tech gremlins)