NZ shares slip as US inflation data looms
The S&P/NZX 50 Index fell 75 points, or 0.7%, to 11,136.28. Turnover was light at just $92.3 million.
Thin trading volumes today might be a sign that investors were unwilling to make big moves ahead of the important inflation data set to be released in the US over the weekend, which will help set the tone for central bank policy.
BNZ interest rate strategist Jason Wong said the consumer price index data is expected to show “inflation still running far too high for comfort”.
“Given market sensitivity to inflation, a surprise in either direction could result in a significant reaction,” he said in a note.
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