New Zealand Dollar resume the decline Despite the improved retail sales data

The New Zealand dollar fell during trading on Friday to record a low for the second day in a row and even though retail sales data for the New Zealand economy improved during the second quarter.

The New Zealand dollar against the US dollar pair is currently trading at the level of 0.7195 after recording the highest at 0.7218 and the lowest level at 0.7189, while the session today opened at 0.7211, comes after the pair rose this week to its highest level in 15 months at 0.7339.

Released today by the New Zealand economy data on retail sales index for the second quarter as actual reading came higher by 2.3% higher than expected 1.0% and previous reading, which was higher by 0.8% has been adjusted to become higher 1.0%.

On the other hand, core retail sales index during the second quarter of the year rose by 2.6% higher than expected 1.1% and the previous reading was higher by 1.0% and been adjusted to a rise of 1.1%.

New Zealand's central bank announced this week cut interest rates by 25 basis points to reach a level of 2%. Where the Bank President pointed out that the global growth rates under the right direction, in spite of the monetary stimulus by global central banks.

Central Bank of New Zealand orientations helped to reduce New Zealand dollar levels in light of expectations for more stimulus in the coming period. In addition that the US dollar rose in trading today to increase the negative pressure on the New Zealand dollar.

The dollar index, which tracks the dollar's performance against a basket of major currencies, is currently trading at 95.96 level after it opened today's session at the level of 95.90, while the lowest level been recorded at 95.89 after recording the highest at 95.99 comes after the dollar index fell this week to record the lowest level at 95.43.