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The Kiwi rose markedly against the US Dollar on the report showing the New Zealand's economic momentum accelerating in the September quarter. The NZD/USD currency pair strengthened 0.42% or 29 base points to 0.7002, trying to remain above the 0.7000 level.
The New Zealand's economy marked the better-than-anticipated annual growth pace of 2.7% in the Q3. Meanwhile, the quarterly expansion eased to 0.6% in the same period, following an upwardly revised 1.0% gain in the prior quarter. However, downturns in some sectors indicated to a muted outlook than the country's new government would prefer. The report provided the reason for the RBNZ to keep interest rates unchanged at a record low as the inflation pulse remained weak.
| Historical Data Table: NZ GDP y/y | Economic Calendar for 21.12.2017 | ||||||||
| Date | 21.12.2016 | 15.03.2017 | 14.07.2017 | 20.09.2017 | 20.12.2017 | 1:30 PM | Canadian CPI m/m | ||
| Actual | 3.5% | 2.7% | 2.5% | 2.5% | 2.7% | 1:30 PM | Canadian Retail Sales | ||
| Forecast | 3.7% | 3.1% | 2.7% | 2.5% | 2.3% | 1:30 PM | US Final GDP | ||
| Initial Reaction on Main Pairs | SWFX Sentiment Indexes | ||||||||
| Open Price | Close Price | % Change | Longs | Shorts | |||||
| AUD/NZD | 1.09892 | 1.09494 | -0.36% | AUD/NZD | 52.79% | 47.21% | |||
| EUR/NZD | 1.70302 | 1.69647 | -0.38% | EUR/NZD | 29.18% | 70.82% | |||
| GBP/NZD | 1.91899 | 1.91065 | -0.43% | GBP/NZD | 70.56% | 29.44% | |||
| NZD/USD | 0.69733 | 0.70025 | 0.42% | NZD/USD | 54.22% | 45.78% | |||