FX.co ★ New Zealand Stocks Retreat

The S&P/NZX 50 index declined by 0.2% to settle at 12,880 on Friday, breaking a three-day winning streak and stepping back from a nearly five-month peak reached in the prior session. This decline was primarily due to profit-taking following the recent market upswing. In the United States, robust economic data released the night before underlined the strength of the American economy even in the face of President Donald Trump's tariffs. Domestically, attention turns to New Zealand's second-quarter Consumer Price Index (CPI) report, scheduled for release on Monday, which is anticipated to show a year-on-year increase of 2.8%, up from 2.5%. This increase is largely driven by rising food and electricity prices, though core inflation is expected to be weaker, potentially paving the way for a possible rate cut in August. On the corporate side, several major stocks exerted downward pressure on the index, including Spark NZ (-1.75%), Meridian Energy (-1%), Auckland International Airport (-1.5%), and Ebos Group (-1.1%). Despite the decline on Friday, the NZX 50 recorded a weekly gain of 1.5%.