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Coming up tonight at 22:45 if you are in Europe, or 16:45 on the East Coast, we could see some moves in NZD pairs due to the release of the electronic card transactions during January.
While it’s not one of the major monthly data releases, it has frequently moved the currency, and there are some special circumstances this time around. Here are some things to keep in mind ahead of the release.
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Why This Data Matters
Electronic Card Transactions tracks the change in the total amount of purchases made by card, be it credit or debit.
This includes both domestic and foreign cards, which is significant given New Zealand’s reliance on tourism. The data is seasonally adjusted, also because of the impact of tourism.
About 60% of the Kiwi economy is measured with Electronic Card Transactions, so not only is it a good gauge of consumer sentiment, but it also gives us...
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