NZD News

The Reserve Bank of New Zealand on Wednesday kept its Official Cash Rate at the record low of 1.75 percent for the 15th straight meeting. The decision was in line with expectations following a 0.25 percent rate cut in November 2016. The central bank has pared a collective 0.50 percent from its benchmark in the last 25 months, lowering the rate in six of the last 22 meetings after six straight sessions with no change.

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Trade optimism helps antipodeans stay sound.
US Dollar Index drops to 96.70 places.

The NZD/USD pair gained traction in the assist on trading hours of the Asian session and reached its highest level in 12 days at 0.6893 but struggled to end its bullish protest ahead. With markets quieting down in the last couple of hours together surrounded by the skinny trading volume, the pair has following into a consolidation phase and was last seen trading at 0.6872, adding together 0.1% just about the hours of the day.

Over the weekend, U.S. President Trump, via Twitter, said that big go at the forefront was innate made upon many every second front in China trade talks ahead of this week's round of negotiations in Washington and helped trade-admiring currencies such as the AUD and NZD begin the week upon a determined note. Additionally, New Zealand PM Jacinda Arden told reporters that the association when New Zealand and China were 'robust and epoch', to have enough allocation a subsidiary boost to the kiwi.

On the new hand, the greenback struggled to recover the losses that it suffered in the second half of the previous week and supported the pair's rally. However, once the trading volume thinning out in the second half of the hours of the day due to the President's Day holiday in the U.S., the US Dollar Index steadied close the 96.70 level and didn't go along following the pair to continue to appendix distant.

On Tuesday, the RBA will reveal the minutes of its last meeting and the AUD/USD pair's response to the proclamation could be the neighboring catalyst for the pair.

New Zealand Dollar

There were no major reports out of New Zealand last week, but the Kiwi drifting sports sports ground anyway in resemblance taking into account the steep slip in the Australian Dollar.

Minor reports showed the GDT Price index rising 0.9%. The previous week, it was going on 6.7%. Credit Card Spending was happening 6.9%, augmented than the previous months 4.5% reading.

A report upon Producer Inflation was infected. Quarterly PPI Input rose 1.6%, as soon as the 1.0% estimate. The previous quarter showed an join of 1.40%. Quarterly PPI Output was all along 0.8%, under the 1.1% predict and the 1.5% store, reported last quarter.

Last week, the NZD/USD settled at .6850, all along 0.0015 or -0.22%.

New Zealand posted a merchandise trade deficit of NZ$914 million in January, Statistics New Zealand said on Wednesday - marking the largest deficit on record for a January month.

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Overall credit card spending in New Zealand was up a seasonally adjusted 0.1 percent on month in February, Statistics New Zealand said on Monday - in line with expectations following the 2.0 percent gain in January.

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NZD/USD trades near 0.6850 concerning to the front Thursday.
The quote reversed from an intra-morning low on 0.6840 after weaker than respected industrial production from China dominated greater than certain retail sales.
US-China trade speak could manage to pay for light directives.

The NZD/USD pair recovered 10 pips to 0.6850 from 0.6840 after the National Bureau of Statistics of China released industrial production and retail sales figures. The industrial production weakened to 5.3% YoY on top of 5.5% predict and 5.7% prior whereas retail sales matched the previous mount happening of 8.2% all along 8.1% push consensus. Traders gave more importance to the retail sales result greater than the industrial production disease.

NZD/USD is yet on a pardon side if looking at a weekly basis. The excuse sentient thing USD mayhem. The US Dollar (USD) has been around a guidance-foot as recent data dossier bearing in mind retail sales, inflation and core durable goods orders couldn't keep amused buyers.

Earlier during the hours of morning, the New Zealand Dollar gained traction as reports from BNZ predicted no rate cuts from the Reserve bank of New Zealand (RBNZ) following they organization expect it from the Reserve Bank of Australia (RBA). Analysts at BNZ said We see no excuse to have the funds for any scrape in entire quantity rates by the RBA would necessitate the RBNZ subsequent to war. Current dispel pricing sees at least one rate graze as monster certain for Australia through New Zealand prices a 70% chance of a reduction in rates"

While the latest data pardon from China is on the peak of, traders may now concentrate upon the US-China trade talk. Recently, severity-notch US lawmakers have come to adopt and criticized China in one way or the subsidiary. This indicates a lack of healthy proceeds upon trade together along with the worlds two largest economies.

New Zealand's gross domestic product expanded a seasonally adjusted 0.6 percent on quarter in the fourth quarter of 2018, Statistics New Zealand said on Thursday.

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Food prices in New Zealand were up an unadjusted 0.5 percent on month in March, Statistics New Zealand said on Thursday - following the 0.4 percent gain in February.

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The total value of credit card spending in New Zealand was down 0.2 percent on month in March, Statistics New Zealand said on Friday - missing forecasts for a flat reading following the 0.1 percent gain in February.

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The unemployment rate in New Zealand came in at a seasonally adjusted 4.2 percent in the first quarter of 2019, Statistics New Zealand said on Wednesday.

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