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
More View more
New Zealand Dollar Stagnant After Increased Credit Card Spending

New Zealand Dollar Stagnant After Increased Credit Card Spending

Gary Kerdus,

THE TAKEAWAY: Credit card spending increased 0.4% in May, +3.9% on the year > New Zealand Dollar little changed after taking a hit in the last 24 hours of trading.

The New Zealand Dollar was little changed after credit card spending increased by 0.4 percent in May and gained 3.9 percent year over year. Positive spending fell in line with the better than expected GDP growth over the same period.

Risk sensitive assets, including the higher yielding NZD, were sold-off over the last 24 hours of trading which was probably fueled in part by a soft German Purchasing Manager Index release and downgrades by Moody’s to fifteen international banks. The currency was slightly correcting its big move down earlier prior to the release and appears to have continued in the same direction.

New_Zealand_Dollar_Stagnant_After_Increased_Credit_Card_Spending_body_Picture_4.png, New Zealand Dollar Stagnant After Increased Credit Card Spending

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

DISCLOSURES