Gross Domestic Product (GDP) measures the annualized change in the inflation-adjusted value of all goods and services produced by the economy. It is the broadest measure of economic activity and the primary indicator of the economy’s health.
The New Zealand Gross Domestic Product fell to 0.2%, from 0.8% in the previous quarter , New Zealand GDP was expected to slide to 0.6% last quarter.
(Year-Over-Year) GDP fell to 2.6%, from 3.5% in the previous quarter , New Zealand GDP(YoY) was expected to slide to 3.0% last quarter.
Market Impact : This development is likely to keep NZDUSD under heavy pressure as long as 0.7024 resistance holds on a daily closing basis, support comes at the 0.6878 levels, a halt is very likely, but a cut would open 0.6690 next, further down will pave the way towards the 0.6500 levels..
On the upside, above 0.7024 faces a recovery risk towards the 0.7200 levels before the next fall……..