16 Feb 2015
NZD/USD remains firm above 0.7500
FXStreet (Córdoba) - NZD/USD extended gains and printed a fresh 4-week high, as the kiwi continued to benefit from better-than-expected NZ retail sales data.
NZD/USD reached a peak of 0.7527 during the European session but lost momentum and retreated somewhat. However, with the 0.75 mark containing the downside, NZD/USD is currently trading at the 0.7510 zone, recording a 0.8% gain on the day.
New Zealand retail sales rose 1.7% in Q4 and 4.7% YoY versus 1.3% and 4.2% expected respectively. These readings support the view the RBNZ will keep the official cash rate unchanged at 3.5% against a backdrop of strong domestic data and low inflation.
NZD/USD reached a peak of 0.7527 during the European session but lost momentum and retreated somewhat. However, with the 0.75 mark containing the downside, NZD/USD is currently trading at the 0.7510 zone, recording a 0.8% gain on the day.
New Zealand retail sales rose 1.7% in Q4 and 4.7% YoY versus 1.3% and 4.2% expected respectively. These readings support the view the RBNZ will keep the official cash rate unchanged at 3.5% against a backdrop of strong domestic data and low inflation.