Geneva, CH -- (SBWIRE) -- 02/20/2014 -- The Kiwi traded lower against all major currencies after Produce Price Inflation output in New Zealand fell unexpectedly last month, official data showed on Wednesday. The Producer Price Index Output released by the Statistics New Zealand is a measurement of the price changes of goods produced by the producers in New Zealand. Generally speaking, a price hike generates higher retail prices for consumers. Thus, a high reading is seen as positive (or bullish) for the NZD, while a low reading is seen as negative (or bearish). During early Asian session, the NZD was down against USD, GBP, EUR and AUD.
In a report, Statistics New Zealand said that New Zealand PPI Output fell to a seasonally adjusted annual rate of -0.4%, from 2.4% in the preceding month. Analysts had expected New Zealand PPI Output to rise 1.4% last month.
Ahead of the coming week, below is a list of significant events likely to affect the markets.
Thursday: US CPI; BoJ Minutes
Friday: Canada CPI
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