ANZ Commodity Price Index
Wednesday 9 May 2018The ANZ Commodity Price Index rose 1.0% m/m in April, notching up its fourth consecutive lift. Of the 17 commodities seven rose, five were unchanged and four declined.
The main thrust was provided by the dairy complex, while aluminium provided a supporting act as trade tensions and geopolitics boosted prices. The meat and fibre group provided a drag as beef and skin prices fell.
The NZD moved higher against major trading partners except the USD and GBP. This helped boost NZD returns 1.2% m/m, lifting annual growth to 5.8%.
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