NZD: Light week for data means narrower election focus - ING

Aside from a narrower focus on the 21 Sep elections, the domestic calendar is fairly sparse - with only second-tier data releases such as consumer confidence and manufacturing PMI (both Thu) to note for NZ economy, according to analysts at ING.

Key Quotes

“We'll also get REINZ house price data (Thu) and here we'll be looking for confirmation of falling house prices; as noted previously, this story removes any tail risk of RBNZ rate hike to address financial stability issues.”

“Geopolitical tensions seem to be having a limited effect on high-beta currencies, with the dollar mainly suffering amid a confluence of negative domestic and external factors. We continue to think an escalation in North Korea tensions - while not our base case - would eventually weigh on traditionally riskier currencies like NZD.”