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The Kiwi strengthened against the US Dollar on New Zealand's retail sales data on Wednesday. The NZD/USD currency pair rose 0.14% or 10 base points to 0.6890 to continue fluctuating in the 0.6880 area.
Statistics New Zealand stated that the country's retail sales growth slowed markedly in the Q3 due to sings that a slowdown in the property market dented consumer optimism, pointing to a weaker spending in the course of the year ahead. The report showed that retail sales volumes grew a seasonally adjusted 0.2% in the September quarter, mostly affected by a 3.1% decrease in spending on food and beverages. The results are set to reinforce the RBNZ resolve to maintain the key interest rate at a record low level of 1.75%.
| Historical Data Table: New Zealand Retail Sales q/q | Economic Calendar for 23.11.2017 | ||||||||
| Date | 18.10.2016 | 16.02.2017 | 14.05.2017 | 13.08.2017 | 22.11.2017 | 9:30 AM | UK Second Estimate GDP q/q | ||
| Actual | 0.90% | 0.60% | 1.50% | 2.00% | 0.2% | 1:30 PM | Canadian Retail Sales | ||
| Forecast | 0.80% | 1.10% | 1.10% | 0.70% | 0.40% | 1:30 PM | Canadian Core Retail Sales | ||
| Initial Reaction on Main Pairs | SWFX Sentiment Indexes | ||||||||
| Open Price | Close Price | % Change | Longs | Shorts | |||||
| AUD/NZD | 1.10763 | 1.10648 | -0.10% | AUD/NZD | 40.17% | 59.83% | |||
| EUR/NZD | 1.71883 | 1.7165 | -0.14% | EUR/NZD | 25.91% | 74.09% | |||
| GBP/NZD | 1.9373 | 1.93506 | -0.12% | GBP/NZD | 70.19% | 29.81% | |||
| NZD/USD | 0.68806 | 0.68902 | 0.14% | NZD/USD | 65.84% | 34.16% | |||