FOREX TradingCharts.com

Forex News: NZ Dollar Falls On Weak Retail Sales Data

NZ Dollar Falls On Weak Retail Sales Data

02/17/2017 - 02:15:00 (RTTNews)

(RTTNews) - The New Zealand dollar weakened against other major currencies in the Asian session on Friday, after data showed that the nations' retail sales growth rose less than expected in the fourth quarter.

Data from Statistics New Zealand showed that New Zealand retail sales growth stabilized in the fourth quarter. The retail sales volume climbed by adjusted 0.8 percent in the December quarter, similar to the September quarter growth but slower than June quarter's 2.2 percent increase.

Economists had forecast 1 percent growth for the December quarter.

Data from he BNZ - BusinessNZ Performance of Manufacturing Index showed that New Zealand's manufacturing sector registered a slower growth in January. The PMI dropped by 2.6 points from prior month to 51.6 in January, the lowest since January 2015. However, the sector has remained in expansion in almost all months since October 2012.

Meanwhile, most Asian stock markets traded lower with investors taking profits following the recent strong gains and also tracking the lackluster cues overnight from Wall Street.

Investors also digested news that Samsung Group's Lee Jae-yong was formally arrested over his alleged role in a corruption scandal that led to the impeachment of South Korean President Park Geun-hye. Lee is the vice chairman of Samsung Electronics Co. and heir apparent of the Samsung Group.

Thursday, the NZ dollar showed mixed trading against its major rivals. While the NZ dollar rose against the yen and the Australian dollar, it fell against the U.S. dollar and the euro.

In the Asian trading, the NZ dollar fell to a 4-day low of 1.4819 against the euro, from yesterday's closing value of 1.4790. The kiwi may test support near the 1.50 region.

Against the yen, the kiwi dropped to 81.60 from yesterday's closing value of 81.93. This may be compared to an early 3-day low of 81.51. On the downside, 80.00 is seen as the next support level for the yen.

Against the U.S. and the Australian dollars, the kiwi dropped to a 2-day low of 0.7200 and nearly a 4-month low of 1.0708 from yesterday's closing quotes of 0.7214 and 1.0662, respectively. If the kiwi extends its downtrend, it is likely to find support around 0.70 against the greenback and 1.08 against the aussie.

Looking ahead, U.K. retail sales data for January is due to be released at 4:30 am ET.

In the New York session, Canada foreign securities purchases data for December and U.S. Baker Hughes rig count data are slated for release.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2017 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT FOREX and ECONOMIC NEWS STORIES


Dollar Little Changed Following U.S. Consumer Sentiment Index (01 min(s), 46 sec(s) ago)
(RTTNews) - Following the release of the University of Michigan's final report on consumer sen ...Full Story»

Dollar Rises Ahead Of U.S. Consumer Sentiment Index (10 min(s), 46 sec(s) ago)
(RTTNews) - The University of Michigan releases final report on consumer sentiment in April at 10: ...Full Story»

Dollar Rises Despite Weak U.S. GDP Data (40 min(s), 46 sec(s) ago)
(RTTNews) - The U.S. dollar rose against its key counterparts in the European session on Friday, e ...Full Story»

Dollar Slightly Up After U.S. GDP Data (01 hr(s), 28 min(s), 45 sec(s) ago)
(RTTNews) - Following the release of U.S. advanced GDP data for the first quarter at 8:30 am ET Fr ...Full Story»

Loonie Rises After Canada GDP Data (01 hr(s), 28 min(s), 45 sec(s) ago)
(RTTNews) - After the release of Canada gross domestic product data for February and industrial pr ...Full Story»

Russian Ruble Advances To 2-day High Vs U.S. Dollar Despite Russia Rate Cut (02 hr(s), 25 min(s), 46 sec(s) ago)
(RTTNews) - The Russian Ruble climbed against the U.S. dollar in European deals on Friday amid hig ...Full Story»

Euro Climbs As Eurozone Inflation Moves Back To ECB Target (03 hr(s), 25 min(s), 46 sec(s) ago)
(RTTNews) - The euro advanced against its major counterparts in the European session on Friday, af ...Full Story»

Euro Climbs After Strong Eurozone Inflation Data (04 hr(s), 34 min(s), 46 sec(s) ago)
(RTTNews) - The euro advanced against its major counterparts in the European session on Friday, af ...Full Story»

Search

FOREX NEWS

Dollar Little Changed Following U.S. Consumer Sentiment Index

04/28/2017 - 10:04 AM (RTTNews)
(RTTNews) - Following the release of the University of Michigan's final report on consumer sen ...Full Story>>

Dollar Rises Ahead Of U.S. Consumer Sentiment Index

04/28/2017 - 09:55 AM (RTTNews)
(RTTNews) - The University of Michigan releases final report on consumer sentiment in April at 10: ...Full Story>>

Dollar Rises Despite Weak U.S. GDP Data

04/28/2017 - 09:24 AM (RTTNews)
(RTTNews) - The U.S. dollar rose against its key counterparts in the European session on Friday, e ...Full Story>>

Loonie Rises After Canada GDP Data

04/28/2017 - 08:36 AM (RTTNews)
(RTTNews) - After the release of Canada gross domestic product data for February and industrial pr ...Full Story>>

Dollar Slightly Up After U.S. GDP Data

04/28/2017 - 08:36 AM (RTTNews)
(RTTNews) - Following the release of U.S. advanced GDP data for the first quarter at 8:30 am ET Fr ...Full Story>>
These pages, and all content ©TradingCharts.com Inc and other copyright holders. Permission is not granted to redistribute charts, data, news or other information found on this site, in any manner. Although it is believed that information provided is accurate, TradingCharts will not accept liability for any loss or damage that may arise from use of the content, inability to access the website, or delay or failure of receive of any information provided through this site.