31 Jul 2013
Flash: NZD and AUD overnight – TD Securities
FXstreet.com (London) - Research teams at TD Securities highlighted the data overnight
Key Quotes:
“NZD The ANZ business confidence index rose from +50.1 to +52.8 in July (neutral is zero, and the series average is +9), back to the April 1999 level of +52.9”.
“The key own activity net balance edged lower from +45 to +44, led by construction, and is historically equivalent to around 5%/yr GDP growth. Separately, Fonterra upgraded its forecast cash payout for 2013/14 by 50 cents to $7.82/kg, just 23c short of the $8.06 record of three years ago, catching up to the recent dramatic rise in dairy prices”.
“AUD Private credit increased +0.4% m/m in June (mkt: +0.3%), the fastest m/m increase since December 2012”.
“Housing credit grew +0.4% for the sixth consecutive month, with a noticeable pick up in investor housing (+0.6%%, fastest m/m since Oct 2010). Business credit is also showing signs of improvement”.
Key Quotes:
“NZD The ANZ business confidence index rose from +50.1 to +52.8 in July (neutral is zero, and the series average is +9), back to the April 1999 level of +52.9”.
“The key own activity net balance edged lower from +45 to +44, led by construction, and is historically equivalent to around 5%/yr GDP growth. Separately, Fonterra upgraded its forecast cash payout for 2013/14 by 50 cents to $7.82/kg, just 23c short of the $8.06 record of three years ago, catching up to the recent dramatic rise in dairy prices”.
“AUD Private credit increased +0.4% m/m in June (mkt: +0.3%), the fastest m/m increase since December 2012”.
“Housing credit grew +0.4% for the sixth consecutive month, with a noticeable pick up in investor housing (+0.6%%, fastest m/m since Oct 2010). Business credit is also showing signs of improvement”.