New Zealand Building Permits for March 2024 -0.2% m/m (prior +14.9%)

NZ bulidng permits data dipped a little on the month. Its a choppy data series but the yearly performance is not encouraging. S

Says Stas NZ:

• “The annual number of new homes consented has continued to decrease from its peak of 51,015 in the year ended May 2022”

***

I’m a bit slow to this data, apologies if you were awaiting it.

I’ve been busy on the yen. And, to be honest, pissing off quite a few people! Check the comments to the posts.

I think this one wins the ‘triggered’ award:

• Japan’s Ministry of Finance have revealed their very weak hand propping up the yen

It looks like I’m gonna have to spend the day ion the naughty corner 😉

Earlier:

• USD/JPY slammed lower
• USDJPY falls below 100 hour MA and runs lower.
• USD/JPY is cratering, drops under 155.00 in super-thin intervention trade
• Those wide spreads you are seeing in yen crosses are a feature, not a bug

• Japan’s Kanda says he has nothing to say about whether Japan intervened in the yen

USD/JPY update … up 250 points from the lows now (yeah, down 200 from where we started too …. life’s all about balance!)

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