NZ Dollar Gains on Risk Appetite, Robust Retail Sales

Feb 25,2019 09:49   Source:Earnforex

All NZD denominationsThe New Zealand dollar gained today, joining its Australian counterpart, boosted by positive fundamentals, both domestic and overseas.

On top of positive developments in the Sino-US trading negotiations, which were boosting other riskier currencies, the kiwi had positive domestic macroeconomic as additional supporting factor. Statistics New Zealand reported that retail sales increased 1.7% in the December quarter from the previous three months after rising 0.3% in the September quarter. Analysts had predicted a much smaller increase of 0.5%.

NZD/USD jumped from 0.6842 to 0.6891 as of 13:26 GMT today. AUD/NZD was up from 1.0397 to 1.0426 intraday but has retreated to 1.0401 by now.

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