New Zealand’s current account deficit widened in the second quarter to $9.5 billion, or 3.3 per cent of their GDP. It’s the biggest deficit in nine years in June quarter and was largely due to a $2.1b increase in the primary income deficit.
Their consumer confidence also dropped to a six year low.
On the Central Bank front, the Bank of Japan is widely expected to keep its policy on hold when it concludes its two-day meeting today. Traders would be looking forward to hearing the Governor’s speech following their interest rate decision.
Later tonight, UK releases its inflation numbers while New Zealand’s second quarter GDP comes in the morning session tomorrow.