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NZ posts strong Q3 GDP production numbers while Australian imports take a hit - TDS

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 17, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Delhi) – Research Team at TDS, notes that the New Zealand’s Q3 GDP production at +0.9% slightly better than mkt +0.8% but topped RBNZ f/c of +0.6%.

    Key Quotes

    “NZ GDP expenditure stronger at +1.2% via consumption, investment and trade. So much for Aug/Sep recession talk.

    AUD: Imports (sa) fell -1% in Nov due to lower fuel costs, as capital and consumption goods both +1%; Q3 Financial Accounts (1) only a fraction of massive ACGB issuance went offshore, so “offshore ownership” slides to 64%; Aussie banks (ADIs) increased holdings of ACGBs as they have hit the (APRA) limit on semis; and (3) the AUD is much weaker than that implied by waning offshore demand for bonds.
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