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New Zealand gets an early start to the trading week on Sunday evening with the release of some key consumer sentiment data that can move the markets.
Electronic Card Retail Sales is the stand-in for a monthly measure of consumer sentiment. It gives us some important insights into potential future inflation changes.
This time around, the data is especially interesting because next week we have the last meeting of the RBNZ for the year. There isn’t a clear consensus on whether the central bank will cut rates or not, with the latest survey showing a 50/50 change of action.
So any data that might give some insights or incline the bank in either direction in the lead up to the meeting could have an exaggerated effect.
What We Are Looking For
For market reaction, we generally want to focus on the monthly figure. The consensus is for Electronic Card Retail Sales for October to remain flat compared to the pri...
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