New Zealand Dollar Rises Against Yen
On Monday, at the end of the trading session, the New Zealand dollar demonstrated positive figures for the local economy. Excluding inflation, retail sales in New Zealand gained a turnover up to 1.6% in the third quarter, compared with a slight turnover of up to 0.2% in the second quarter. Economists called for growth of only 0.5%, and the rebound reinforced the unexpected interest rate hold at the Reserve Bank of New Zealand earlier this month.
Yen Drop Against New Zealand Dollar
The anti-risk Japanese yen declined, while the US dollar fell under the influence of a mixed-type session. The US dollar showed a pullback after the Chicago Fed national activity index fell to – 0.71 against the expected – 0.20 in October. This reflected the worst growth trend and reduced the yield of local government bonds.
Asia Pacific Trading Session
The key moment of trading in the Asia-Pacific region is the speech of Fed Chairman Jerome Powell. The Central Bank is currently considering rates that are appropriate. At the same time, the next decline by 25 bp is expected next year.In contrast, regional exchanges may repeat the Wall Street session. This contributes to the growth of indices, including Nikkei 225 and ASX 200 from Japan and Australia. This puts the yen at risk, thereby continuing to support the growth of New Zealand and Australian dollars associated with descending tops.