Kiwi and Aussie ascend on NZ data and RBA remarks
The New Zealand and Australian dollars rose against their American counterpart on Tuesday, because Monday’s poor American data weighed on the US dollar, while positive New Zealand data along with comments by the Reserve Bank of Australia spurred the two local currencies.
The currency pair NZD/USD surged 0.74%, hitting 0.7190, the highest outcome since October 7.
The greenback was under pressure, reacting to Monday’s data, showing that American industrial production surged by 0.1% the previous month, below hopes for a revenue of 0.2%.
Separately, the Fed of New York stressed its Empire State manufacturing index went down to -6.80 in October from -1.99 last month.
Financial experts had expected the index to ascend to 1.00.
Earlier on Tuesday, Statistics New Zealand reported that the consumer price index edged up 0.2% during the third quarter, thus ruining expectations for a flat reading and after a surge of 0.4% in the three months to June.
AUD/USD rose 0.66%, reaching 0.7679.