Dollar Steadies Ahead of ECB and BoE Decisions as Markets Turn Risk-Off 
Gold and Silver Prices Rebound After Volatile Week Triggered by Fed Nomination 
Bank of Japan Signals Readiness for Near-Term Rate Hike as Inflation Nears Target 
Japan Economy Poised for Q4 2025 Growth as Investment and Consumption Hold Firm 
Japanese Pharmaceutical Stocks Slide as TrumpRx.gov Launch Sparks Market Concerns 
FxWirePro: Daily Commodity Tracker - 21st March, 2022 
U.S.-India Trade Framework Signals Major Shift in Tariffs, Energy, and Supply Chains 
Gold Prices Slide Below $5,000 as Strong Dollar and Central Bank Outlook Weigh on Metals 
New Zealand’s retail spending fell 0.6 percent in October, a weaker result than expected. Today's result follows strong gains in the past two months. Spending levels remain well up on those seen through the first half of the year, Westpac Research reported.
Looking back over the past year, retail spending levels are 1.6 percent higher than they were this time last year.
October’s pullback in spending was seen in a number of categories including consumables like groceries, durable household items like furnishings, and apparel. That saw core (ex-fuel and motor vehicle spending) dropping by 0.6 percent over the month.
But before markets get too downbeat about today’s result, we should put it in context. October’s pullback follows solid gains over the past two months. And even with this latest moderation, retail spending levels are still running well above the levels that prevailed through the first half of this year.
"We expect that spending growth will continue to climb through the remainder of 2019 and into 2020, supported by the firming in the housing market and wage growth. However, today’s result indicates that the pace of such increases may still be moderate," the report further commented.
Meanwhile, today’s result likely comes too late to affect the RBNZ’s deliberations ahead of Wednesday’s Official Cash Rate decision.
