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NZDUSD New Zealand Dollar vs United States Dollar

0.5986
0.0013 (0.21%)
Last Updated: 14:08:23
Delayed by 15 minutes
Name Symbol Market Type
New Zealand Dollar vs United States Dollar FX:NZDUSD Forex Exchange Rate
  Price Change % Change Price Bid Price Offer Price High Price Low Price Open Price Traded Last Trade
  0.0013 0.21% 0.5986 0.5985 0.5987 0.599 0.5966 0.5973 0 14:08:23

Dollar Remains Weak After Disappointing U.S. Retail Sales

15/10/2018 10:34am

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NZD vs US Dollar (FX:NZDUSD)
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The U.S. dollar remained lower against its most major opponents in the European session on Monday, following the release of a data showing much weaker than expected U.S. retail sales growth for September.

Data from the Commerce Department showed that retail sales inched up by 0.1 percent in September, matching the uptick seen in August. Economists had expected retail sales to climb by 0.5 percent.

Excluding a rebound in auto sales, retail sales edged down by 0.1 percent in September after rising by a downwardly revised 0.2 percent in August.

Ex-auto sales had been expected to rise by 0.3 percent, matching the increase originally reported for the previous month.

Meanwhile, a separate report released by the Federal Reserve Bank of New York showed the pace of growth in New York manufacturing activity accelerated by more than anticipated in the month of October.

The New York Fed said its general business conditions index rose to 21.1 in October from 19.0 in September, with a positive reading indicating growth in regional manufacturing activity. Economists had expected the index to inch up to 20.0.

Lingering worries about global trade as well as growing tensions between the U.S. and Saudi Arabia over the disappearance of a prominent Saudi journalist also weighed on the markets.

The currency dropped against its major counterparts in the Asian session, with the exception of the franc.

After rising to a 6-day high of 1.3083 against the pound at 5:00 pm ET, the greenback reversed direction and was trading lower at 1.3159. The greenback is poised to target support around the 1.33 area.

The greenback fell to 1.1602 against the euro, following an advance to 1.1540 at 5:00 pm ET. The next possible support for the greenback is seen around the 1.17 level.

Preliminary figures the Federal Statistical Office showed that German manufacturers added more employees during August compared to a year ago.

The number of employees in the manufacturing units with 50 or more persons grew by about 149,000 persons or 2.7 percent from the same period last year to 5.7 million.

The greenback stayed weak at near a 2-week low of 0.9848 against the franc, down from a high of 0.9921 touched at 6:00 pm ET. If the greenback falls further, it may find support around the 0.97 area.

The greenback held steady against the yen, after falling to near a 5-week low of 111.63 at 5:00 am ET. The pair had ended last week's deals at 112.21.

The greenback slipped to near 2-week lows of 0.7149 against the aussie and 0.6550 against the kiwi, reversing from its early 4-day highs of 0.7099 and 0.6494, respectively. The greenback is likely to challenge support around 0.73 against the aussie and 0.67 against the kiwi.

The greenback reached as low as 1.3005 against the loonie, coming off from a high of 1.3033 hit at 8:45 pm ET. On the downside, 1.28 is possibly seen as the next support level for the greenback.

The U.S. business inventories data for August is due shortly.

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