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More NZ inflation data: RBNZ measure of core inflation 1.7% y/y (1.6% prior)
More NZ inflation data: RBNZ measure of core inflation 1.7% y/y (1.6% prior) https://t.co/XuyXztK1St pic.twitter.com/qYPG5jjSv7
— 18d.Media (@18dMedia) July 17, 2018
Added at 11:31pm
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RBNZ's preferred gauge of inflation hit 7-year high in Q2, 2018
Kiwi bulls are likely feeling emboldened by the fact that Reserve Bank of New Zealand's (RBNZ) preferred gauge of inflation hit a 7-year high in the second quarter. The sectoral factor model, which RBNZ uses as a measure of "core inflation" jumped 1.7 percent year-on-year in Q2 from the previous quarter's print of 1.6 percent. The data seems to have put a bid under the NZD/USD, which has gained more than 35 pips in the last 15 minutes to hit a session high of 0.6817.
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Beware of robber banks (RB), bad advisors.