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NZ Dollar Gains on Risk Appetite, Robust Retail Sales

February 25, 2019 at 13:39 by Vladimir Vyun

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.

If you have any questions, comments, or opinions regarding the New Zealand Dollar, feel free to post them using the commentary form below.

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