GDT Price Index Slows to 0.9% Gain, NZD Momentum May Wane

The latest Global Dairy Trade (GDT) Price Index rose by just 0.9% at the recent auction, significantly slower than the previous 2.3% gain.

This indicates a cooling of international dairy pricing momentum after the prior increase, which may limit the upward movement of the New Zealand Dollar (NZD).

The Reserve Bank of New Zealand typically adopts a more dovish tone when GDT growth slows down as quickly as it has now, potentially leading to a decline in the NZD.