Solid News

New Zealand Q4 Retail Sales Fell by 4.0%

2/27/2023 12:12 PM

Against the actively strengthening of the US dollar, the NZD/USD pair continues its poor dynamics, trading at 0.6143.

The state of the New Zealand economy remains unstable, which is confirmed by the morning's retail sales report: Q4 2022 indicator fell by 4.0% compared to the previous period, and sales of equipment and building materials, which amounted to –15.0%, were the leaders in the decline. The auto parts segment also showed a significant weakening, losing 10.0%. Thus, seasonally adjusted retail sales corrected by –0.6% after rising by 0.4%, which ultimately led to a drop in the core index by 1.3% after rising by 0.5% earlier, although analysts had expected positive dynamics by 0.3%, which led to a serious decline of the New Zealand dollar.

The US dollar continued to strengthen, starting trading this week at 105.200 in the USD Index. The report on new home sales in the United States in January showed an increase of 670.0K after an increase of 625.0K in December, which was the most significant increase in the indicator since September 2022 and supported the national currency, and the consumer sentiment index from the University of Michigan in February amounted to 67.0 points compared to 64.9 points earlier.

The trading instrument is declining, leaving the limits of the local sideways channel of 0.6220–0.6500.

Technical indicators strengthen the sell signal: fast EMAs on the Alligator indicator move away from the signal line, and the AO histogram forms downward bars in the sell zone.

Resistance levels: 0.6220, 0.6360. | Support levels: 0.6100, 0.5950.

Find Us
Registered Address : Bonovo Road – Fomboni Island of Mohéli – Comoros Union
Sofia, PO Box 1407,14 Flip Kutev Str. Floor 2, Industrial area Hladilnika, Bulgaria
Call Us
+35 924 928 392

Disclaimer 1: Solid ECN Securities LLC and it affiliates does not accept clients from Turkey, United States, and Europe.
Disclaimer 2: The information provided on this site is not intended for residents of any country or jurisdiction where its distribution or use would violate local laws or regulations.
Risk Warnings
Solid ECN Securities LLC offers trading on Foreign Exchange (‘Forex’ or ‘FX’) and Contracts for Difference (‘CFDs’), which are complex financial products that are traded on margin. They carry a high level of risk since leverage can work both to your advantage and disadvantage. As a result, these products may not be suitable for all investors, as loss of all invested capital may occur. You should not risk more than you are prepared to lose. Before deciding to trade, you need to ensure that you understand the risks involved and consider your investment objectives and level of experience. Seek independent advice, if necessary.
Solid ECN Securities LLC does not issue advice, recommendations or opinions in relation to acquiring, holding or disposing of a CFD. Solid ECN Securities LLC is not a financial advisor and all services are provided on an execution-only basis. This communication is not an offer or solicitation to enter into a transaction and shall not be construed as such.
This website is not directed at any jurisdiction and is not intended for any use that would be contrary to local law or regulation.
By using you agree to use our cookies to enhance your experience.
Solid ECN Securities LLC is authorized and regulated by the Comoros Union with reference number HY00623411.
Copyright All Right Reserved 2023