At 00:45 (GMT+2), New Zealand will release retail sales data for Q1 — a measure that tracks the volume of all goods sold by retailers each month, based on a sample of stores of different types and sizes. It is an important indicator of consumer spending, which has a significant impact on gross domestic product (GDP). A correction is expected from 0.9% and 0.6% QoQ, and the base indicator is likely to decline from 1.5% to 0.9%, which is expected to exert downward pressure on the New Zealand dollar.
