New Zealand January business confidence 54.4 (prior 62.3)

ANZ New Zealand business survey

Business confidence slips to 54.4, still a solid reading

• prior 62.3

Activity Outlook, same, 45.8

• prior 50.3

ANZ remarks on the results:

• Past own activity, (the best GDP indicator) was stable close to zero, while past employment continued to lift, though at -7 it remains in contraction.
• Pricing and cost indicators lifted, with the downward trends that have been in place over the past year showing signs of flattening off. Inflation expectations lifted a touch but remain within the target band at 2.7%

NZD/USD is up a few tics on the session, more reflecting a tiny bit of softening for the USD that is down a little across the majors board. More of a wiggle than a move really. NZD/USD is around 0.5666 currently.

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