Dmitri Lysenko
NZ’s CPI declined by 1.3% in August. This is the biggest decline since Feb 2010. It became possible mainly due to the seasonality factor.
According to Statistics New Zealand, despite the big-scale decline in food prices, it has little impact on inflation (y/y). In general, this year New Zealand’s consumers have already spent on food 6.6% more than in 2010.
FOREX.
In the meantime, NZDUSD continues its downward mid-term retracement. According to the Department of Masterforex-V trading system , the retracement will take the form of wave c (C ) H4. The closest support is 0,8116. The major rally will be resumed only when the price breaks above the bearish sloping channel (as shown below – the green arrow).
Dmitri Lysenko
