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Economic weather report: Export prices get helping hand from weaker NZ$
Alex Tarrant presents an economic weather report on New Zealand's export commodity prices. Export prices jumped 10.5% in world price terms in November, according to the ANZ Commodity Price Index.
What has happened in previous months is that the rising New Zealand dollar has cut into the large gains in the world price index, but this didn't happen in November. The NZ$ index rose 11.7% over the month as the NZ$ fell back from its highs of 76 USc seen in October. The TWI hit its lowest point since September near the end of the month as fears surrounding Dubai's debt scared markets. Here's hoping the NZ$ doesn't carry on to 80 USc anytime soon.
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