Temporarily Bearish movement of NZD/USD after GDP Release

Temporarily Bearish Movement of NZD/USD After GDP Release

Deltafx Admin 19 December 2022

The Gross Domestic Product (GDP) index measures annual changes in the inflation-adjusted value of all goods and services produced in the economy. This index is the most comprehensive measure of economic activity and the primary indicator of economic health.

A higher than expected reading should be considered positive/bullish for the NZD, while a lower than expected reading should be considered negative/bearish for the NZD.

The New Zealand GDP index was released at 9:45 pm on December 14 at 2.0%, which was 1.2% above forecasts. It should be noted that the previous value of this index was stabilized at 1.9%.

After the release of this index, which was higher than expected, the currency pair NZD/USD temporarily fell to the level of 0.64016, but after a few hours the market returned to normal.

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