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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
New ZealandNew Zealand Food Price Index MoM fell to -1.3% in April 2013
FMPMonthlyReleased April 2013
New Zealand Food Price Index MoM fell to -1.3% in April 2013, down 1.0% from March's -0.3% reading. The reading missed the -0.2% consensus by 1.1%.
Latest Release
-1.3
Actual
-0.2
Consensus
-0.3
Previous
Sigmacast Track Record
Sigmacast track record will appear here once this indicator has been released 3+ times since Sigmanomics began tracking.
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Signal Bias | Action |
|---|---|---|---|---|---|
| NZD/USD | ▲ Direct | +0.55 | FOREX | Bullish NZD | → View |
| NZD/JPY | ▲ Direct | +0.45 | FOREX | Bullish NZD | → View |
| AUD/NZD | ▼ Inverse | −0.40 | FOREX | Bearish AUD | → View |
| EUR/NZD | ▼ Inverse | −0.35 | FOREX | Bullish NZD | → View |
| XAU/USD | ▲ Direct | +0.30 | COMMODITIES | Watch | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
Food Price Index MoM (New Zealand) was reported at -1.3% in April 2013. This missed the market consensus of -0.2% by 1.1%. The reading fell from the previous value of -0.3%.
THE MODEL'S TAKE
Historically, this indicator is positively correlated with NZD/USD (Bullish NZD). A secondary relationship exists with NZD/JPY, positively correlated (Bullish NZD).
WHAT TO WATCH NEXT
Same-country events in the next 14 days include RBNZ Interest Rate Decision (May 27) and Monetary Policy Statement (May 27).
Auto-generated from current model state · Refreshes on each release · Last update April 2013.
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Food Price Index MoM - NZ
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About Food Price Index MoM — New Zealand
DEFINITION
The Food Price Index MoM (Month-over-Month) is a financial indicator that measures the change in the average price of food items on a monthly basis. It provides valuable insights into the current trends and fluctuations in food prices, which can have a significant impact on both consumers and businesses. This indicator is commonly used by economists, policymakers, and investors to assess the overall health of the food market and make informed decisions.
WHY THIS INDICATOR MATTERS
This release contributes to the broader macro picture used by cross-asset investors for positioning and risk management. The release is more useful as part of a longer-run signal than as a single-print catalyst. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Apr 2013): actual -1.3 %, consensus -0.2 %.
WHAT'S NEXT
This indicator correlates most strongly with NZD/USD (Bullish NZD, r=0.55) — a useful reference for forex-focused traders.