New Zealand's Gross Domestic Product (GDP) grew by 1.1% QoQ in the third quarter (Q3), compared with a 1.0% contraction (revised from -0.9%) in the second quarter, Statistics New Zealand showed on Thursday. This reading came in stronger than the expectation of 0.9%.
Here is what you need to know on Thursday, December 18:
Pancake (CAKE) price remains under pressure midweek, trading below $2 and reaching a two-month low as sellers tighten their grip on the market. The ongoing pullback is strengthening, driven by weakening derivatives sentiment and deteriorating technical momentum, suggesting further downside.