NZ Dollar Fails to Rally, Trades Near Opening

The New Zealand dollar behaved somewhat similarly to its Australian counterpart today, attempting to rally intraday, but losing gains by now.

Statistics New Zealand reported that the input Producer Price Index rose 0.6% in the March quarter from the previous three months, slowing from the 0.9% rate of growth registered in the previous quarter but beating expectations of a 0.3% increase. The output PPI rose 0.2%, in line with expectations but also slowing from the previous quarter’s 1.0% rate of growth.

AUD/USD opened at 0.6895, rallied to the daily high of 0.6937, but retreated to trade at 0.6886 by 11:02 GMT today. EUR/AUD ticked up from 1.7105 to 1.7118.

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