NZ Dollar Drops Amid Downbeat China Data
2020年8月14日 - 12:20PM
RTTF2
The NZ dollar fell against its major opponents in the Asian
session on Friday, as weak China data and the political stalemate
over additional U.S. stimulus package made investors cautious.
Official data showed that China's industrial production grew 4.8
percent on a yearly basis in July, the same rate of growth as seen
in June and weaker than the expected rise of 5.1 percent.
Retail sales dropped 1.1 percent from last year, confounding
expectations for an increase of 0.1 percent.
During January to July period, fixed asset investment decreased
1.6 percent versus a 3.1 percent decrease in January to June.
Stimulus talks stalled as a pivotal call between House Speaker
Pelosi and Treasury Secretary Mnuchin yielded no results.
The two sides remained at odds over enhanced jobless benefits
and expanding mail-in voting, among other issues.
The kiwi slipped to 2-day lows of 0.6526 against the greenback
and 69.78 against the yen, off its early highs of 0.6554 and 70.09,
respectively. The kiwi may possibly challenge support around 0.63
against the greenback and 68.00 against the yen, if it falls
further.
The kiwi depreciated to near a 3-month low of 1.8095 against the
euro and near a 2-year low of 1.0953 against the aussie, reversing
from its early highs of 1.8014 and 1.0901, respectively. The kiwi
is poised to find support around 1.86 against the euro and 1.12
against the aussie.
Looking ahead, Eurozone trade data for June, GDP and employment
data for the second quarter are due in the European session.
In the New York session, U.S. retail sales and industrial
production for July, business inventories for June and University
of Michigan's preliminary consumer sentiment index for August are
scheduled for release.
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