New Zealand dollar maintains positive momentum on Friday - NZD/USD up 0.28%
The New Zealand dollar has risen continuously in the past week, reflecting investors' optimism about its relative strength. The main reasons include:
1. New Zealand's economic performance is relatively good. Although retail sales data has declined, the decline is less than expected. This shows that consumer demand remains stable.
2. The Reserve Bank of New Zealand announced a rate cut last week, but the reduction was only 0.25 percentage points, which was lower than market expectations. This boosted investors' confidence in the New Zealand dollar.
3. The US dollar fell back during the North American trading session, causing the New Zealand dollar to appreciate relatively. The market is paying attention to the speech of Federal Reserve Chairman Powell at the Jackson Hole Forum to understand the future interest rate trends of the Federal Reserve.
In general, the recent strong performance of the New Zealand dollar reflects investors' optimism about its economic fundamentals. However, in the future, we still need to pay attention to the policy dynamics of the Federal Reserve and changes in New Zealand's economic data.
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