NZD

NZD Credit Card Spending

Prior Reading 2.6%

Actual:  0.5%

This figure is coming off of the lowest number ever in 9/2008 at 0.0%

The New Zealand Retail Sales for September were released as follows:

Retail Sales - Survey: 0.4%   Actual: 0.1%

Retail Sales (ex-auto) - Survey: 0.4%   Actual: -0.5%

Retail Sales (ex-inflation) - Survey: -1.2%   Actual: -0.9%

The NZD/USD pair which was trading below the .56 figure is slightly softer following this weaker than expected report.

The Bank of New Zealand's Commodity Price Index fell again in October down -7.4% after falling by -4.9% in September. Commodity prices are continuing to fall across the board as speculation of a global slowdown continues to spread, subsequently diminishing the demand for the raw products that make up this index.

The following are the Labor data releases for New Zealand, which kick off what promises to be an eventful week of trading:

Labor Cost Private Sector - Survey:0.8%   Actual:1.1%

Private Wages ex Overtime - Survey:0.8%   Actual:1.2%

Average Hourly Earnings - Survey:1.2%   Actual:1.1%

New Zealand Business Confidence for October came in at a terrible -42.3, much worse than the prior reading for +1.6. This report has sent the Kiwi a little bit lower against the Dollar, but overall this poor reading has evoked a minimal reaction.

The New Zealand September Trade Balance which was expected to be released at -550 Million came in much worse than expected at a deficit of 1.183Billion, the prior months reading was a negative 750 Million. The Kiwi has had a minimal reaction to this release; the components below were also worse than expected.

Imports- Survey:4.13Billion   Actual:4.35B   Prior:4.32B

Exports- Survey:3.60Billion   Actual:3.17B   Prior:3.57B

The New Zealand Consumer Prices came in as expected for the 3rd quarter:

• 1.5% (QoQ)
• 5.1% (MoM)

In addition Food Prices came in softer (MoM) for September 0.6% versus the 2.7% for August.

The final New Zealand Retail Sales numbers for August were released as follows:

Retail Sales: +.4% versus prior month reading of -.8%, which was also revised better to -.7%.

Retails Sales ex-Auto: +.8% versus prior month reading of -.2%, which was also revised better to flat (0%).

Trade Balance Out at -750M

Expected at -926M

Prior -781M

Official Release Site:  http://www.stats.govt.nz/default.htm

This figure represents export demand and it is related to currency demand becuase foreign buyers must use NZD to make their purchases.

NZD

GDP QoQ

Expected at  -0.5%

Prior -0.3%

Actual- -0.2%

YoY

Expected at -0.5%

Actual- 1.0%

Official Site:  http://www.stats.govt.nz/default.htm