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The New Zealand economy is expected to contract for the third quarter by another 0.5% as the slowdown in the global economy has weighed on demand for exports. The quarter also saw commodity prices tumble which added to the economy’s weakness led by oil which fell to as low as $32 bbl last week. Trading the News: Canadian Consumer Price Index (YoY) What’s Expected Time of release: 12/22/2008 21.45 GMT, 16.45 EST Primary Pair Impact : NZDCAD Expected: -0.5% Previous: -0.2%
