The New Zealand dollar rose during Thursday’s quiet trading. The currency weakened following the release of disappointing retail sales data, but quickly recovered.
New Zealand retail sales rose just 0.2% in the September quarter from the previous three months versus the forecast increase of 0.4% and the previous quarter’s growth of 1.8%. The core components of the indicator rose by 0.5%, compared to the predicted increase of 0.9% and the gain by 1.9% registered in the previous reporting period.
A trade balance report will be released at 21:45 today.
NZD/USD rose from 0.6878 to 0.6895 as of 10:58 GMT today, bouncing from the daily low of 0.6865. NZD/JPY gained from 76.50 to 76.70 after touching the low of 76.26.
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