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NZ GDP Australia Jobs

Overnight, we have the last major economic data from New Zealand and Australia for the year. After that, we can expect their pairs to slip into vacation mode for the next couple of weeks.

It seems that the two countries whose currencies usually move in tandem because of their similarity, are seeing a divergence in their economic numbers.

The expectations for later today and early tomorrow reflect this. There’s a consensus that New Zealand data will be worse than before, while Australian data will show an improvement.

Let’s go over what that means for the markets.

New Zealand’s (slow) Economic Growth

We have two bits of data coming out at the same time that routinely affect the currency. However, the one that’s likely to get most of the attention is quarterly GDP.

Expectations are for the economy to have grown by 0.4% in the third quarter, a slowing of the pace from 0.5% prior. On an annualized basis, that would just barely keep the same rate of growth at just 2....

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