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Building permits in New Zealand for March 2024 -0.2% m/m (previously +14.9%)

New Zealand building permit data fell slightly during the month. This is a volatile data series, but the annual performance is not encouraging. S

Stas NZ says:

  • “The annual number of new housing units authorized continued to decline from its peak of 51,015 for the year ended May 2022”

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I’m a little slow with this data, sorry if you were expecting it.

I’ve been busy on the yen. And, to be honest, it pissed off a lot of people! Check comments on posts.

I think this one wins the “triggered” award:

  • Japan’s Finance Ministry revealed its very weak hand in supporting the yen

Looks like I’m going to have to spend the day in the naughty corner 😉

Earlier:

  • USD/JPY falls sharply
  • USDJPY falls below the 100 hourly MA and continues to decline.
  • USD/JPY Crashes Below 155.00 in Ultra-Thin Intervention Trade
  • The wide spreads you see on yen crosses are a feature, not a bug.
  • Japan’s Kanda says he has nothing to say on Japan’s intervention on the yen

USD/JPY update…up 250 points from current lows (yes, down 200 from where we started too…life is about balance!)

This article was written by Eamonn Sheridan at www.forexlive.com.

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