BNZ (BusinessNZ) has published New Zealand’s business activity in December. With a glance at seasonality, the index grew by 1.3 points, thereby reaching 50.1 pts.
The average annual figures are 50.9 pts. This indicates of an increase in New Zealand’s business activity. Still. Some analysts say that in 2012 the indicator was weaker than during the previous 2 years.
It should be noted that the components of the index failed to show common dynamics. Therefore, the overall strength was backed by the output (52.5). Other components showed slight weakness.
Forex.
According to , the New Zealand Dollar is currently weakening against the US Dollar. The experts report that NZDUSD is forming a retracement move against the previous upswing.
A further rally will probably encounter resistance around 0.8445, 0.8459. The current bullish trend will be completed as soon as the price overcomes the bottom of the MF sloping channel and consolidates below 0.8347 (as shown below).
