Breaking: NZD/USD breaks 0.71 following surprise CPI print

In thin trade at the start of the week, New Zealand Consumer Prices, which surprised to the upside at the start of the day, has seen NZD/USD rally to test 0.7100 and print 0.7105 the high.

New-Zealand (Sep) CPI (YoY) actual: 4.9% vs 3.3% previous;est 4.2%.

New-Zealand (Sep) CPI (qoq) actual: 2.2% vs 1.3% previous;est 1.5%.

NZD/USD 5-min chart

However, given the spread in early Asia, traders would find this data difficult to trade at the time of the release. Instead, this will be digested and factored into Tokyo’s session. That, coupled with Chinese Gross Domestic Data later today, makes for a potentially busy day ahead.