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June 20, 2023NZD/USD drops from 0.62 to 0.6138, losing 62 pips (1%) today.
The New-Zealand Dollar is currently trading at 0.6138 following the release of Building Permits (May) data from the United States.
While price action maintains a negative bias, United States Building Permits (May) released today at 12:30 UTC with a figure of 1.49 million, while the previous figure was 1.15 million. New Zealand Westpac Consumer Sentiment (Q2) released yesterday at 22:00 UTC with a figure of 83.1, while the previous figure was 77.7. Data for United States Housing Starts published today at 12:30 UTC came out at 21.7%, beating projections of -0.8% and showing improvement over the preceding figure of -2.9%.
In the meantime, negative performances are also seen in other pairs as AUD/USD is down to 0.6756, losing 98 pips, after closing at 0.6855 in the preceding trading session.
Though the New-Zealand Dollar has been dropping, other pairs have been performing better: EUR/AUD surges 1.23% to trade around 1.6135. EUR/NZD added 0.82% to its value, now trading at 1.7758.
Furthermore, New Zealand Retail Price Index figure is projected at -2.4. It previously stood at -0.9; data will be released today at 15:00 UTC. New Zealand Balance of Trade figure is projected at 350,000,000%. It previously stood at 427,000,000%; data will be released tomorrow at 22:45 UTC. New Zealand Balance of Trade figure is projected at -17,236,000,%. It previously stood at -16,800,000,%; data will be released tomorrow at 22:45 UTC.
As things stand, the New-Zealand Dollar is 11.4% away from a significant low of 0.5566 first set 8 months ago.
