According to figures released by the National Statistics Agency in New Zealand an increase into the country’s annual tourist arrivals have been increased. More specific the data shows that on April the amount of visitors arriving in New Zealand has increased by a near 5% compared to the amount of last year. This is a significant improvement given the fact that last year the data showed an 11.4% decline. Following the announcement of this data minor volatility was developed in the NZDUSD pair. Nevertheless as the NZD appears to be making gains over the USD over the last couple days and as it is near a one-week high this data could give investors one extra reason to seek the NZD especially if the Credit Card Spending Data, which is to be released towards the end of the session in also hawkish.
The Visitor Arrivals estimate the number of visitors arriving to New Zealand. As the tourism industry is a vital and large part of a country’s total growth, the visitor arrivals can be an important indication of the state of economy. Usually a high value is associated by hawkish currency behavior.