The NZD/USD pair trades on a stronger note around 0.6065 on the weaker US Dollar (USD) during the early Asian session on Wednesday.
NZD/USD trades on a positive note near 0.6065 in Wednesday’s early Asian session, up 0.23% on the day. New Zealand CPI inflation eased more than expected in the second quarter, triggering RBNZ rate cut expectations. US Retail Sales unchanged in June. The NZD/USD pair trades on a stronger note around 0.6065 on the weaker US Dollar during the early Asian session on Wednesday. The New Zealand Dollar edges higher after the release of the New Zealand Consumer Price Index reading.
The performance of the Chinese economy tends to move the Kiwi because China is New Zealand’s biggest trading partner. Bad news for the Chinese economy likely means less New Zealand exports to the country, hitting the economy and thus its currency. Another factor moving NZD is dairy prices as the dairy industry is New Zealand’s main export. High dairy prices boost export income, contributing positively to the economy and thus to the NZD.
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