What is M3 Supply New Zealand in Forex Trading?

M3 money supply measures all New Zealand encompassing notes, coins, dollars in circulation and money held in bank accounts as well. M3 supply New Zealand is considered most important economic indicator which has direct impact on interest rates and inflation. An acceleration in M3 supply is considered positive for NZD while deterioration is as adverse. The M3 supply New Zealand increased to 337987 million New Zealand dollar in month of March 2020 which was 326490 million NZD in February 2020. The data of M3 supply is released on monthly basis usually at the end of each month by the Reserve Bank of New Zealand.