CFDs are complex financial instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. CFDs are complex financial instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

New Zealand dollar peaks on strong GDP

New Zealand’s economy has grown 1% in the June quarter, as measured by gross domestic product (GDP), making it the largest rise in the past two years.

Zena Chamas

Publication date : 2018-09-20T01:15:00+0100

New Zealand dollar

The NZD/USD surged upon the news to 0.6652 from 0.6610 on Thursday, with the result exceeding predictions.

Statistics New Zealand data showed, the services industries were one of the biggest contributors to growth, increasing 1%, and the goods-producing industries were up 0.9%.

Growth was shown in 14 of 15 primary industries, with Agriculture, forestry and Fishing upon the highest at 4.1%. This was mainly due to favourable weather conditions, which boosted milk production leading to the rise.

Meanwhile, mining was down 20% and investment spending was down 0.1%.

All service industries were up 1%, with growth in retail, trade, accommodation and transport industries helped by a combination of increased household spending and strong international spending.

The results doubled the expectations of the New Zealand Reserve Bank, prediction a growth of 0.5%.

The June quarter economic growth results were a welcomed change, after a flat March quater and low business confidence results.

The next GDP will be released for the September quarter, on December 20^th 2018.

This information has been prepared by IG, a trading name of IG Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.

CFDs are a leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your initial deposit, so please ensure that you fully understand the risks involved.

Find articles by writer

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. Professional Clients can lose more than they deposit.

The value of shares and ETFs bought through an IG stock trading account can fall as well as rise, which could mean getting back less than you originally put in. Please ensure you fully understand the risks and take care to manage your exposure.

IG does not issue advice, recommendations or opinions in relation to acquiring, holding or disposing of a CFD. IG is not a financial advisor and all services are provided on an execution-only basis. This communication is not an offer or solicitation to enter into a transaction and shall not be construed as such.

IG is a trading name of IG Limited a company registered at 2702 & 2703 Level 27, Tower 2, Al Fattan Currency House, DIFC, Dubai, United Arab Emirates. IG is authorised and regulated by the Dubai Financial Services Authority (DFSA) under reference No. F001780.

The information on this site is not directed at residents of the United States, Belgium or any particular country outside the UAE and is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.