NZD/USD at 0.8465 on Solid Q2 Retail Trade

The New Zealand dollar gained in early Asia on Thursday after stronger thatn expected retail sales data and ahead of data and survey releases in Japan on core machinery and inflation expectation in Australia.

NZD/USD traded at 0.8476, up 0.23%, while USD/JPY traded at 102.41, down 0.01% and AUD/USD at 0.9307, up 0.02%.  New Zealand’s second quarter retail trade rose 1.2%, above expectations for a 1.0% gain.

In Japan, June machinery orders and the MOF’s weekly transactions in securities are due at 0850 Tokyo time (2350 GMT). The median forecast for private-sector core orders (excluding electric utilities and ships) is a gain of 15.3% on month, which would be the first rise in three months.

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