Quiet Week for New Zealand

What was an uneventful week in terms of the absence of market-moving fundamentals came to an end with the release of rather conflicting indicators of the repercussions of RBNZ?s monetary policy measures.

Data on visitor arrivals was suggestive of a future decline in domestic demand as the annual growth rate of permanent migrant arrivals slid to a 14-month low of 0.8 percent. In contrast, data compiled by the Reserve Bank suggested that consumer spending on debit, credit and store cards in June advanced by the steepest rate in six months.

No data is due for release.

Visitor Arrivals (JUN)[/B]
Actual: 0.8%
Expected: 1.8%
[B]Credit Card Spending (YoY) (JUN)
[/B]Actual: 9.1%
Expected: 5.8%

[I]See DailyFX Weekly Calendar for more details.[/I]