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The Kiwi appreciated against the US Dollar reflecting the growth in New Zealand's manufacturing sector after its slowdown in January. The NZD/USD currency pair gained 0.06% or five base points to the 0.7407 mark, but kept trading in the 0.7400 area.
New Zealand's manufacturing activity started to regain the momentum after its weakest pace in nearly five years in the last month of 2017.The seasonnaly adjucted Manufacturing Index increased to 55.6 in January from the revised 51.1 in the prior month. Following the formation of the new Labour-led government, businesses were nervous waiting for new policies to take their place and how industrial relations, the job market, trade and the real estate market will be affected.
| Historical Data Table: Business NZ Manufacturing Index | Economic Calendar for 16.02.2018 | ||||||||
| Date | 12.10.2017 | 16.11.2017 | 14.12.2017 | 18.01.2018 | 16.02.2018 | 9:30 AM | UK Retail Sales m/m | ||
| Actual | 57.5 | 57.2 | 57.7 | 51.1 | 55.6 | 1:30 PM | US Building Permits | ||
| Forecast | - | - | - | - | - | 1:30 PM | US Import Prices m/m | ||
| Initial Reaction on Main Pairs | SWFX Sentiment Indexes | ||||||||
| Open Price | Close Price | % Change | Longs | Shorts | |||||
| AUD/NZD | 1.0726 | 1.07199 | -0.06% | AUD/NZD | 36.94% | 63.06% | |||
| EUR/NZD | 1.68837 | 1.68745 | -0.05% | EUR/NZD | 27.48% | 72.52% | |||
| GBP/NZD | 1.90368 | 1.90264 | -0.05% | GBP/NZD | 67.13% | 32.87% | |||
| NZD/USD | 0.74027 | 0.74073 | 0.06% | NZD/USD | 32.20% | 67.80% | |||