New Zealand data – ANZ World Commodity Price Index +0.2% in December (prior +2.9%)

New Zealand data – the ANZ World Commodity Price Index

For December 2024 +0.2% m/m vs. +2.9% in November:

• NZD eased 1.6% in December, pushing up the NZD Trade Weighted Index by 3.6% m/m

The y/y +15%.

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As part of the report is ANZ’s look at chipping costs:

Global shipping prices were mixed in December.

• The well-publicised but volatile Baltic Dry Index fell 10% during the month to its lowest level since mid-2023.
• The China Containerized Index, which measures the cost of shipping into and out of China, rose 5.6%, and the Harper Peterson Index also firmed slightly in December.
• Chinese New Year typically results in some delays for shipping due to port workers being on leave, so the tighter availability of ships can put some upward pressure on prices.

(China) Lunar New Year is coming up on Wednesday, January 29th, 2025.

This article was written by Eamonn Sheridan at www.forexlive.com.