New Zealand Retail Sales for the first quarter (Q1) slumped 0.7% versus +0.7% prior on the quarterly basis.
Retail Sales ex-Autos, also known as Core Retail Sales, grew 0.6% against 0.5% prior on QOQ.
Fx implications
The NZD/USD pair failed to offer any major reaction to the data, considering its survey period including only a brief of the lockdown period. That said, the kiwi pair extends its early-day recovery to 0.6125 by the press time of the initial Asian sesion, pre-Tokyo open, on Friday.
Read: NZD/USD remains above 0.6100, shrugs off New Zealand Retail Sales data
About New Zealand Retail Sales
The Retail Sales released by the Statistics New Zealand measures the total receipts of retail stores. Quarterly percent changes reflect the rate of changes of such sales. Changes in Retail Sales are widely followed as an indicator of consumer spending. A high reading is seen as positive (or bullish) for the NZD, while a low reading is seen as negative (or bearish).
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