September 22, 2009

New Zealand’s Economy Surprises the Markets

An economic report showed that New Zealand’s GDP surprisingly turned positive in the second quarter (on the quarterly basis). Another report this weak also showed that the current account deficit, as a percentage of the GDP, dropped to 5.9 percent, well below the 7.4 percent which was the average estimates. New Zealand dollar appreciated in both cases. The following carts show the reactions from the Forex market.

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