17 Dec 2015
NZ posts strong Q3 GDP production numbers while Australian imports take a hit - TDS
FXStreet (Delhi) – Research Team at TDS, notes that the New Zealand’s Q3 GDP production at +0.9% slightly better than mkt +0.8% but topped RBNZ f/c of +0.6%.
Key Quotes
“NZ GDP expenditure stronger at +1.2% via consumption, investment and trade. So much for Aug/Sep recession talk.
AUD: Imports (sa) fell -1% in Nov due to lower fuel costs, as capital and consumption goods both +1%; Q3 Financial Accounts (1) only a fraction of massive ACGB issuance went offshore, so “offshore ownership” slides to 64%; Aussie banks (ADIs) increased holdings of ACGBs as they have hit the (APRA) limit on semis; and (3) the AUD is much weaker than that implied by waning offshore demand for bonds.
Key Quotes
“NZ GDP expenditure stronger at +1.2% via consumption, investment and trade. So much for Aug/Sep recession talk.
AUD: Imports (sa) fell -1% in Nov due to lower fuel costs, as capital and consumption goods both +1%; Q3 Financial Accounts (1) only a fraction of massive ACGB issuance went offshore, so “offshore ownership” slides to 64%; Aussie banks (ADIs) increased holdings of ACGBs as they have hit the (APRA) limit on semis; and (3) the AUD is much weaker than that implied by waning offshore demand for bonds.