Business Confidence figures for the month of April have been announced in New Zealand. The announced rate of 14.2 was significantly higher that then previous reading of -8.7 for April. Following the news announcement at 01:00 GMT time the New Zealand Dollar made some gains over the American one rising around 15 pips.
The Business Confidence is published by the National Bank of New Zealand and demonstrates what the business viewpoint is in New Zealand. Therefore this index allows for short term analysis of the country’s economic situation to be performed. An increasing value in the index would show an increase in business investment that could develop higher levels of output. Therefore, a high reading is usually associated by hawkish behavior of the currency.