Kiwi stabilizes after release of economic data

Economies.com
2024-05-23 20:12PM UTC

The New Zealand dollar stabilized on Thursday after the release of data and the policy decisions of the central bank.

 

Earlier government data showed retail sales rose 0.5% in the first quarter, while analysts expected a 0.3% drop.

 

Core sales rose 0.4%, while analysts expected no change. 

 

The Reserve Bank of New Zealand recently decided to hold interest rates unchanged at 5.5%. 

 

On trading, NZD/USD stabilized at 0.6098 as of 21:04 GMT.

 

Sterling 

 

The pound fell 0.2% against the US dollar as of 21:05 GMT to 1.2692.

 

The UK manufacturing PMI rallied to 51.3 from 49.5 in the previous reading. 

 

On the other hand, the services PMI slid to 52.9 from 54.7 in the previous reading.

 

The US Dollar

 

The dollar index rose 0.1% as of 20:43 GMT to 105.07, with a session-high at 105.1, and a low at 104.6. 

 

Earlier US data showed unemployment claims fell to 215 thousand last week from 223 thousand.

 

The US manufacturing PMI rose to 50.9 in May from 50. 

 

The services PMI jumped to 54.8 this month, while analysts expected a drop to 51.2. 

Forex and Currency News

GBP/USD news

Forex

BoE holds interest rates unchanged
2024-06-20 11:11AM UTC
The Bank of England voted to hold interest rates unchanged at the June 20 policy meeting for the ...
USD/CHF news

Forex

Franc is worst performing major currency after SNB surprise
2024-06-20 09:29AM UTC
The Swiss franc tumbled in European trade on Thursday away from three-month highs against the US ...
GBP/USD news

Forex

Sterling moves in a negative zone ahead of BOE's decisions
2024-06-20 08:32AM UTC
Sterling fell in European trade on Tuesday against a basket of major rivals, moving in a negative ...

Forex Technical Analysis

GBP USD Analysis

Forex

The GBPUSD forecast update 21-06-2024
2024-06-21 09:19AM UTC
GBPUSD Price Analysis Expected Scenario The GBPUSD price provided clear negative trades ...
EUR USD Analysis

Forex

The EURUSD price forecast update - 21-06-2024
2024-06-21 09:19AM UTC
EURUSD Price Analysis Expected Scenario The EURUSD price managed to touch our first ...
Technical Analysis

Forex

The AUDCAD ends the bullish rally – Forecast today – 21-6-2024
2024-06-21 07:52AM UTC
AUDCAD Price Analysis Expected Scenario The AUDCAD price confirmed ending the bullish ...