New Zealand Retail Sales (Q1) -0.7% versus +0.7% prior, NZD/USD unfazed around 0.6125

New Zealand Retail Sales for the first quarter (Q1) slumped 0.7% versus +0.7% prior.

More to come...

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).