Home Article Market News NZD Surged After A Jumped In New Zealand Retail Sales

NZD Surged After A Jumped In New Zealand Retail Sales


Asian shared traded higher on Monday, boosted by optimism regarding rolling out a potentially working coronavirus vaccine. US top infectious disease expert Dr. Anthony Fauci said that he would not hesitate to get vaccinated when one of the two vaccine candidates that showed positive results hit the market.

On the economic front, New Zealand retail sales rose by 28% in the third quarter of 2020, following a 14.6% drop in the previous period.

In Australia, the preliminary data showed that the IHS Markit Manufacturing PMI increased to 56.1 in November, from 54.2 in the previous month.

In the FX markets, the NZD is leading across the board after a jumped in New Zealand retail sales. Meanwhile, the AUD traded almost flat despite the risk-on tone from vaccine optimism.

On the other hand, the JPY pressured amid an upbeat market mood. However, any negative update could trigger the strength in JPY.

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