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NZD GDT Price Index, Oct 01, 2024

GDT Price Index: New Zealand's Dairy Barometer

The GlobalDairyTrade (GDT) Price Index is a vital economic indicator for New Zealand, providing insights into the country's dairy industry performance and its impact on the NZD (New Zealand Dollar).

Latest Data (October 1, 2024):

  • eBaseId: 602
  • Actual: 0.8%
  • Forecast: (Not provided)
  • Impact: Low
  • Previous: 0.8%

This latest data indicates a 0.8% increase in the GDT Price Index, matching the previous reading. While the impact on the NZD is considered low, this stability in dairy prices suggests a healthy state of the industry.

Why Traders Care:

The GDT Price Index is a leading indicator for New Zealand's trade balance. Dairy products constitute a significant portion of New Zealand's exports. When prices for these commodities rise, it boosts export income, strengthening the NZD.

Understanding the GDT Price Index:

  • Frequency: The GDT Price Index is released twice a month, providing frequent updates on the state of the global dairy market.
  • Measurements: The index measures the change in the average price of dairy products sold at the GlobalDairyTrade auction. This auction serves as a benchmark for international dairy trading.
  • Derived Via: The index is calculated by comparing the weighted-average price of the 9 dairy products sold at auction to the previous sampling.
  • Source: The GDT Price Index data is sourced directly from GlobalDairyTrade (GDT), the world's leading online auction platform for dairy products.
  • Next Release: The next release of the GDT Price Index is scheduled for October 15, 2024.

Key Takeaways:

  • The GDT Price Index is a vital economic indicator for New Zealand, influencing the performance of the NZD.
  • Stable prices in the latest reading suggest a positive outlook for the New Zealand dairy industry.
  • Traders closely monitor the GDT Price Index as a key indicator of the country's trade balance.
  • The index's frequent release schedule allows for timely market insights.
  • The GDT Price Index is a valuable tool for understanding the global dairy market dynamics.

Note: While the source does not provide an exact release time, the GDT Price Index release is considered Tentative until the data is officially released.

The GDT Price Index continues to be a crucial tool for navigating the dynamic world of global dairy trade, offering valuable insights to investors, traders, and policymakers alike.