Commodity currencies were generally weak today. That translated to the New Zealand dollar even though domestic macroeconomic data was very good.

Retail sales increased by 1.7% in the December quarter after increasing 0.3% in the previous three months. Analysts had predicted a smaller increase by 1.4%. The report allowed the kiwi to pause decline for a short while, but ultimately currency resumes its drop.

NZD/USD dropped from 0.7337 to 0.7293 as of 13:54 GMT today. EUR/NZD gained from 1.6787 to 1.6858.

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Post tags: Dollar, EUR/NZD, New Zealand, NZD/USD, Retail Sales

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