New Zealand core retail sales fell in December both m/m and y/y

New Zealand's core retail sales fell in December both year-on-year and month-on-month. The electronic retail card spending data covers about 68% of the country's core retail sales and serves as a key measure of monthly retail activity. This indicates a potential waning consumer spending sentiment in New Zealand's economy. However, the NZD/USD pair remained largely unchanged following the release of this data, suggesting that the market's immediate reaction was limited. Investors should remain attentive to upcoming economic indicators and the central bank's monetary policy, as they could impact the currency's performance moving forward.