News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Mixed
Oil - US Crude
Mixed
Wall Street
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Gold
Bullish
GBP/USD
Bearish
USD/JPY
Bullish
More View more
Real Time News
  • 🇺🇸 Industrial Production YoY (MAY) Actual: 16.3% Previous: 16.5% https://www.dailyfx.com/economic-calendar#2021-06-15
  • 🇺🇸 Industrial Production MoM (MAY) Actual: 0.8% Expected: 0.6% Previous: 0.1% https://www.dailyfx.com/economic-calendar#2021-06-15
  • The lack of technical or fundamental drivers sees stocks take the path of least resistance. DAX 30 and IBEX 35 drift higher. Get your #DAX market update from @HathornSabin here:https://t.co/pTSiYtOYha https://t.co/CGwIcLj51d
  • Combine some modest Dollar strength pre-FOMC and a slide from the Sterling after its run of data and $GBPUSD looks like it is tempting fate on a head-and-shoulders pattern. Dubious of follow through until tomorrow though https://t.co/jofJwvwwEu
  • Heads Up:🇺🇸 Industrial Production MoM (MAY) due at 13:15 GMT (15min) Expected: 0.6% Previous: 0.7% https://www.dailyfx.com/economic-calendar#2021-06-15
  • Heads Up:🇺🇸 Industrial Production YoY (MAY) due at 13:15 GMT (15min) Previous: 16.5% https://www.dailyfx.com/economic-calendar#2021-06-15
  • Semiconductor shortage? Outrageous lumber prices? Used cars? Those narratives are all in the data: - Motor vehicles & parts -3.7% - Furniture & home furniture stores -2.1% - Electronics & appliance stores -3.4% - Building materials -6.9%
  • May US retail sales miss expectations at -1.3% vs -0.7% exp (m/m). Core misses as well, -0.7% vs +0.4% exp. But a look beneath the hood tells a familiar story: supply chain constraints have lifted prices, so consumers are spending less.
  • 🇺🇸 PPI MoM (MAY) Actual: 0.8% Expected: 0.6% Previous: 0.6% https://www.dailyfx.com/economic-calendar#2021-06-15
  • 🇺🇸 Retail Sales Ex Autos MoM (MAY) Actual: -0.7% Expected: 0.2% Previous: 0% https://www.dailyfx.com/economic-calendar#2021-06-15
Kiwi Weakens as N.Z. Card Spending Unexpectedly Falls in February

Kiwi Weakens as N.Z. Card Spending Unexpectedly Falls in February

Tzu-Wen Chen, Technical Strategist

THE TAKEAWAY: [N.Z. Card Spending Declined Unexpected in February] > [Weakening retail sales; reduced pressure for RBNZ rate hike in near term] > [NZD weakens against USD]

Total card spending in New Zealand unexpectedly declined in February, dipping by 0.3 percent from a month earlier. This is significantly lower than the month-over-month rise of 0.5 percent reading in February 2011. Total spending had risen by 0.9 percent in January (revised from 1.0 percent) after falling in November and December. Meanwhile, retail card spending also fell short of expectations in February, declining by 0.7 percent after recording a 1.1 percent rise in January (revised from 1.2 percent). Economists polled in a Bloomberg News survey had expected a 0.1% rise in both total and retail card spending in February.

The lower-than-expected figures indicate a possible weakening of retail sales, and could alleviate pressure on the Reserve Bank of New Zealand to raise its overnight cash rate in the near term. The latest figures support the RBNZ’s decision yesterday to hold their benchmark cash rate unchanged at 2.5 percent.

NZDUSD 1-minute Chart: March 8, 2012

Kiwi_Weakens_as_N.Z._Card_Spending_Unexpectedly_Falls_in_February_body_Picture_1.png, Kiwi Weakens as N.Z. Card Spending Unexpectedly Falls in February

Chart created using Strategy Trader– Prepared by Tzu-Wen Chen

Immediately after the data release, the kiwi slid against the U.S. dollar, declining by 7 pips in the first 15 minutes. The N.Z. dollar declined as investors reacted to the weaker figures, which could contribute to the RBNZ deciding against a rate hike in the near term. At the time of this report the NZD had retraced slightly but was trading lower at 0.8241 against the USD.

--- Written by Tzu-Wen Chen DailyFX Research

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES