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New Zealand Food Prices -0.5% In August
Food prices declined 0.5 percent on year in August, Statistics New Zealand said on Friday, after falling 1.8 percent in July.
Among the individual categories, prices were down 2.1 percent for grocery food and 0.7 percent for meat, poultry and fish. Offsetting the decline, restaurant meal prices were up 1.3 percent.
"Food prices are slightly lower than a year ago, reflecting cheaper vegetables, dairy products and lamb," prices manager Chris Pike said in a statement accompanying the data "Annual food prices have now fallen for four months in a row. This hasn't happened since 2010, when a run of four annual falls also ended in August."
Among individual items, lettuce was down 39 percent, followed by fresh milk (down 9.2 percent), and broccoli (down 50 percent). Lamb prices decreased 19 percent from their peak in August 2011.
The food items that increased most for the year were: tomatoes (up 26 percent), fresh chicken pieces (up 9.2 percent), and kumara (up 90 percent).
Kumara prices reached their highest level since February 2008, influenced by low prices in August 2011 and poor weather conditions in both the planting and harvesting seasons, which affected this year's crop.
On a monthly basis, food prices were up 0.1 percent after adding 0.2 percent in the previous month.
Fruit and vegetable prices rose 1.5 percent, reflecting higher tomato prices (up 31 percent). Non-alcoholic beverage prices rose 1.3 percent, reflecting higher prices for fruit juice and soft drinks.
These prices were influenced by less discounting than in July 2012. Grocery food prices fell 0.7 percent - the fifth fall in six months.
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Food prices declined 0.5 percent on year in August, Statistics New Zealand said on Friday, after falling 1.8 percent in July.
Among the individual categories, prices were down 2.1 percent for grocery food and 0.7 percent for meat, poultry and fish. Offsetting the decline, restaurant meal prices were up 1.3 percent.
"Food prices are slightly lower than a year ago, reflecting cheaper vegetables, dairy products and lamb," prices manager Chris Pike said in a statement accompanying the data "Annual food prices have now fallen for four months in a row. This hasn't happened since 2010, when a run of four annual falls also ended in August."
Among individual items, lettuce was down 39 percent, followed by fresh milk (down 9.2 percent), and broccoli (down 50 percent). Lamb prices decreased 19 percent from their peak in August 2011.
The food items that increased most for the year were: tomatoes (up 26 percent), fresh chicken pieces (up 9.2 percent), and kumara (up 90 percent).
Kumara prices reached their highest level since February 2008, influenced by low prices in August 2011 and poor weather conditions in both the planting and harvesting seasons, which affected this year's crop.
On a monthly basis, food prices were up 0.1 percent after adding 0.2 percent in the previous month.
Fruit and vegetable prices rose 1.5 percent, reflecting higher tomato prices (up 31 percent). Non-alcoholic beverage prices rose 1.3 percent, reflecting higher prices for fruit juice and soft drinks.
These prices were influenced by less discounting than in July 2012. Grocery food prices fell 0.7 percent - the fifth fall in six months.
More Forex News - at instaforex.com
New Zealand Food Prices -0.5% In August
Food prices declined 0.5 percent on year in August, Statistics New Zealand said on Friday, after falling 1.8 percent in July.
Among the individual categories, prices were down 2.1 percent for grocery food and 0.7 percent for meat, poultry and fish. Offsetting the decline, restaurant meal prices were up 1.3 percent.
"Food prices are slightly lower than a year ago, reflecting cheaper vegetables, dairy products and lamb," prices manager Chris Pike said in a statement accompanying the data "Annual food prices have now fallen for four months in a row. This hasn't happened since 2010, when a run of four annual falls also ended in August."
Among individual items, lettuce was down 39 percent, followed by fresh milk (down 9.2 percent), and broccoli (down 50 percent). Lamb prices decreased 19 percent from their peak in August 2011.
The food items that increased most for the year were: tomatoes (up 26 percent), fresh chicken pieces (up 9.2 percent), and kumara (up 90 percent).
Kumara prices reached their highest level since February 2008, influenced by low prices in August 2011 and poor weather conditions in both the planting and harvesting seasons, which affected this year's crop.
On a monthly basis, food prices were up 0.1 percent after adding 0.2 percent in the previous month.
Fruit and vegetable prices rose 1.5 percent, reflecting higher tomato prices (up 31 percent). Non-alcoholic beverage prices rose 1.3 percent, reflecting higher prices for fruit juice and soft drinks.
These prices were influenced by less discounting than in July 2012. Grocery food prices fell 0.7 percent - the fifth fall in six months.
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Yen Slightly Off Early Lows Against Pound And U.S. Dollar
The Japanese yen that declined against the pound and the U.S. dollar in early Monday Asian trading bounced back slightly shortly thereafter.
The yen is now trading at 126.91 against the pound, compared to a 4-month low of 127.35 hit in early deals.
The yen also recovered from a 10-day low of 78.49 against greenback and the pair now trading at 78.22.
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Yen Rises Against Majors
The Japanese yen advanced against its major opponents in Asian morning deals on Tuesday.
The yen is now trading at 78.54 against the greenback, 102.87 against the euro, 84.72 against the franc, 127.57 against the pound and 64.81 against the kiwi.
Against the Canadian and Australian dollars, the yen is trading at 4-day highs of 80.55 and 82.06, respectively.
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NZ Dollar Advances To 5-day High Versus Euro
During early Asian deals on Wednesday, the New Zealand dollar traded higher against its major counterparts after the releasing of Q2 current account balance data.
The Statistics New Zealand reported that New Zealand saw an unadjusted current account deficit of NZ$1.797 billion in the second quarter of 2012.
That missed expectations for a shortfall of NZ$1.620 billion following the upwardly revised deficit of NZ$1.072 billion in the first quarter.
At 7:25 pm ET, the kiwi climbed to a 5-day high of 1.5757 versus the euro, compared to yesterday's closing value of 1.5779.
The NZ unit also edged up against the US dollar and the Japanese yen in early trading and as of now worth 0.8285 and 65.30, respectively.
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New Zealand Dollar Trades Higher Amid GDP Data
In the early Asian session on Thursday, the New Zealand dollar reversed its direction and traded higher against other major currencies following the release of nation's better-than-expected gross domestic product report for the second quarter.
Statistics NZ reported that New Zealand's economy expanded 0.6 percent in the second quarter of 2012 compared to the previous three months. That beat forecasts for an increase of 0.4 percent following the downwardly revised 1.0 percent expansion in the first quarter (originally 1.1 percent).
On a yearly basis, GDP jumped 2.6 percent, also beating estimates for an increase of 2.4 percent, which would have been unchanged from the previous three months.
The kiwi advanced to 0.8305 against the U.S. dollar, its strongest level since September 17. This may be compared to an early 2-day low of 0.8254. If the kiwi rises further, it may target 0.835 level. The kiwi-greenback pair closed yesterday's deals at 0.8270.
Against the Australian currency, the kiwi advanced to 1.2612, reversing from a 3-day low of 1.2703. The next resistance level for the kiwi is seen at 1.26. The pair closed Wednesday's deals at 1.2682.
The kiwi that rose to 1.5728 against the euro from a 2-day low of 1.5819 held steady thereafter. The next upside target level for the kiwi is seen at 1.565. At Wednesday's close, the pair traded at 1.5789.
The kiwi that bounced back from a 6-day low of 64.70 against the yen edged up to 65.12 before moving sideways thereafter. The kiwi ended yesterday's deals at 64.83 versus the yen.
Japan saw a merchandise trade deficit of 754.127 billion yen in August, the Ministry of Finance said today.
That beat forecasts for a shortfall of 829.3 billion yen following the downwardly revised deficit of 518.9 billion yen in July (originally 517.382 billion yen).
Looking ahead, Bank of Japan's monthly economic report is due at 1:00 am ET.
German producer prices, U.K. retail sales and Swiss trade data -all for August, PMI's from major European economies and Switzerland's second quarter industrial production are expected in the New York morning session.
From the U.S., weekly jobless claims for the week ended September 15 and leading indicators for August are expected in the American morning session.
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Japan Resident Sold Net Y289.4 Billion In Foreign Stocks Last Week
Japanese investors sold a net 289.4 billion yen in foreign stocks in the week ended September 15, the Ministry of Finance said on Friday.
Japanese residents also purchased a net 64.4 billion yen in bonds and notes last week.
Foreign investors bought a net 60.4 billion in Japanese stocks last week, the data showed, and they also purchased a net 521.7 billion yen in Japanese bonds and notes.
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U.S. Dollar Spikes Up Against European Majors
The U.S. dollar firmed against its European major counterparts during the early Asian session on Monday.
The greenback is trading at 0.9362 versus the franc, its highest level since September 13.
The greenback also approached 4-day highs of 1.2936 against the euro and 1.6207 against its British unit.
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Yen Mixed Versus Majors After Japan's Corporate Service Price Report
The Japanese yen showed mixed trading against major opponent after the releasing of Japan's corporate service price report for the month of August in early Asian deals on Tuesday. The yen held steady against the dollar, while edged down versus the major European currencies.
As of now, the yen is trading near 77.88 against the US dollar, 100.80 versus the euro, 83.34 against the Swiss franc and 126.40 versus the poundnit.
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New Zealand Trade Shortfall NZ$789 Million In August
New Zealand posted a seasonally adjusted merchandise trade deficit of NZ$789 million in August, Statistics New Zealand said on Wednesday - representing 24 percent of exports.
The headline figure was well shy of forecasts for a shortfall of NZ$630 million after posting an upwardly surplus of NZ$97 million in July. This compares with a deficit of $690 million (20 percent of exports) in August 2011.
Exports were down 3.4 percent on year to NZ$3.32 billion - also missing expectations for NZ$3.55 billion after coming in at NZ$4.00 billion in the previous month.
Mechanical machinery and equipment and crude oil had the largest decreases.
The value of exports to Australia - New Zealand's largest export destination - fell $172 million (17 percent) in August 2012 compared with August 2011, Statistics New Zealand said. The fall was led by petroleum and products.
"Lower exports to Australia contributed to the overall fall in export values," industry and labor statistics manager Neil Kelly said. "But an increase in exports to China, led by dairy products, partly offset the fall."
Imports fell an annual 0.4 percent to NZ$4.10 billion, in line with forecasts after showing NZ$3.99 billion a month earlier.
Seasonally adjusted exports fell 8.0 percent compared with July 2012. There was a large fall in seasonally adjusted milk powder, butter, and cheese exports, which followed two large increases in June and July. Seasonally adjusted imports fell 1.3 percent.
The trend for exports appears to have been increasing since March, while the trend for imports has been flat in recent months. The trend for imports is 6.0 percent lower than its record level in September 2008.
Upon the release of the data, the New Zealand dollar edged down against major rivals, trading near 0.8200 against the U.S. dollar, 1.5742 versus the euro, 63.81 against the yen and 1.2659 versus the Australian dollar.
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US Dollar Slips Against Majors
The US dollar traded lower against major rivals during early Asian deals on Thursday.
At 7:45 pm ET, the greenback dropped to 0.9389 against the Swiss franc, 1.6180 versus the British pound, 1.2887 against the euro, 0.8257 versus the NZ dollar, 77.70 against the yen and 1.0380 versus the Australian dollar from previous session's highs of 0.9419, 1.6140, 1.2840, 0.8187, 77.92 and 1.0331, respectively.
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