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June 16, 2023NZD/USD drops from 0.6238 to 0.6212, losing 25 pips (0.42%) today.
Data for United States Retail Sales released yesterday at 12:30 UTC is better than expected with 0.3%, but worse than previous figure of 0.4%.
On the flip side, new United States Initial Jobless Claims data fell short of the 250,000 projected by analysts with a reading of 262,000 while failing to improve upon the previous reading from last month (262,000).
Amid the market gloom, New Zealand Business NZ PMI (May) released yesterday at 22:30 UTC with a figure of 48.9, while the previous figure was 49.1.
Though the Kiwi has been dropping, other pairs have been performing better: GBP/JPY soars 1.13% to trade around 181.32. USD/JPY is up 0.88% to 141.49. GBP/NZD is up 0.67%.
The Kiwi is now trading 12.06% away from its significant low of 0.5566 first tested 8 months ago.
