NZD News

New Zealand Q3 Retail Sales Up 0.3%

The total volume of retail sales in New Zealand added a seasonally adjusted 0.3 percent in the third quarter of 2013 compared to the previous three months, Statistics New Zealand said on Thursday.

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An index measuring business confidence in New Zealand spiked to a score of 60.5 in November, the latest survey from ANZ Bank revealed on Thursday - touching a near 15-year high.

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The total volume of manufacturing activity in New Zealand climbed a seasonally adjusted 0.5 percent in the third quarter of 2013 compared to the previous three months, Statistics New Zealand said on Monday.

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An index measuring the performance of the services sectors in New Zealand came in with a score of 56.3 in November, the latest survey from Business New Zealand revealed on Monday.

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An index measuring business confidence in New Zealand moved higher in December, the latest survey from ANZ Bank revealed on Wednesday - coming in with a score of 64.1.

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New Zealand's gross domestic product was up 1.4 percent in the third quarter of 2013 compared to the previous three months, Statistics New Zealand said on Thursday.

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NZD/USD weekly outlook: December 23 - 27


Monday, December 23

The U.S. is to produce government data on personal spending and expenditure, while the University of Michigan is to release revised data on consumer sentiment and inflation expectations.

Tuesday, December 24

The U.S. is to release data on durable goods orders, a leading indicator of production, as well as a report on new home sales.

Wednesday, December 25

Markets in New Zealand and the U.S. will remain closed for the Christmas Day holiday.

Thursday, December 26

Markets in New Zealand will remain closed in observance of Boxing Day.

Meanwhile, the U.S. is to release weekly data on initial jobless claims.

Friday, December 27

The U.S. is to round up the week with a report on crude oil supplies.

New Zealand business confidence strengthened to highest since 1994 as the economic recovery broadened across regions, the Quarterly Survey of Business Opinion from New Zealand Institute of Economic Research showed Tuesday.

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New Zealand's Capital Rattled by 6.3 Earthquake

A magnitude 6.3 earthquake struck New Zealand’s North Island today, shaking capital city Wellington and sending the nation’s currency lower.

The temblor hit at 3:52 p.m. local time near the town of Castlepoint, about 160 kilometers (99 miles) northeast of Wellington, GeoNet said on its website. The New Zealand dollar dropped after the quake, falling as much as 0.3 percent to 82.32 U.S. cents, the lowest since Jan. 10. It traded at 82.47 U.S. cents at 5:10 p.m. in Wellington. There were no immediate reports of injury.

The country of 4.4 million people sits on the Pacific Ring of Fire, a belt of volcanic and quake activity that circles the Pacific Ocean. Wellington’s city center was temporarily closed after a magnitude 6.5 earthquake struck on July 21 last year, blowing out windows, throwing goods from store shelves and sending people running from buildings.

“I suspect there was not too much of an impact as I’ve not had the calls that I normally would if there’s damage,” Mark Lister, head of private wealth research at Craigs Investment Partners Ltd. in Tauranga, said by phone.

The benchmark NZX 50 Index (NZSE50FG) ended the day little changed at 4,890.5.

A giant metal eagle hanging from the roof of Wellington airport to promote the Hobbit films, which has a wingspan of 15 meters and weighs about 2 tons, fell to the floor during the quake, the New Zealand Herald reported.

Radio New Zealand reported a large rockfall in Castlepoint, near the center of the quake, and damage to houses in surrounding areas. It said train services have been suspended in Wellington, where many businesses are closed for a regional public holiday.

A magnitude 6.3 quake in February 2011 in the South Island city of Christchurch killed 185 people, the nation’s deadliest in eight decades.

Consumer prices in New Zealand gained a seasonally adjusted 0.1 percent in the fourth quarter of 2013 compared to the previous three months, Statistics New Zealand said on Tuesday.

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