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NZ Retail Sales update

Written by Sam Coxhead on January 21st, 2011.      0 comments

11:15 AM (NZT) Since I updated this morning we have seen a bounce in Equities which has seen the USD give up a portion of its gains. Some better Corporate earnings results in the US providing the stimulus for a little profit taking from the moves prior. Commodities have also bounced in quick fashion in what are very thin afternoon trading conditions in the US.
The Retail Sales number proved to be a volatile affair as the headline number showed 1.5% increase in sales against an expectation of a 1.3% rise, then the core number without Autos showed -.2% against the +.6%. All in all , not a great number. Interest rate futures have moved lower in yield and the market seems to want to remove any feelings of an early rise in the cash rate from the RBNZ.
          Last 24 hours trade
  Current level Pre-NZ RS Chge since NZ RS   Low High
NZD/USD 0.7569 0.7590 -0.3%   0.7533 0.7688
AUD/USD 0.9865 0.9874 -0.1%   0.9833 1.0010
NZD/AUD 0.7674 0.7691 -0.2%   0.7664 0.7689
AUD/NZD 1.3031 1.3002 0.2%   1.2998 1.3053
NZD/GBP 0.4765 0.4773 -0.2%   0.4753 0.4799
NZD/EUR 0.5620 0.5635 -0.3%   0.5618 0.5703
NZD/JPY 62.83 62.99 -0.3%   62.54 63.05
NZD/CAD 0.7552 0.7572 -0.3%   0.7552 0.7654 
 

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