New Zealand Food Price Index (MoM) rises to 1.9% in Jan from -0.2%

The resilient New Zealand economy continues to give joy for long players on the Kiwi, and after the pair consolidated within a tight pennant pattern, the January s/a adj PMI in New Zealand, up at 55.2 from an upward revised 50.4 in December, has finally acted as the catalyst sending the pair surging just above 0.8450 from 0.8407.