NZD/USD: testing tactical support
The Reserve Bank of New Zealand made announcements regarding its monetary policy. The NZD/USD dropped.
Is there a chance for the NZD?
New Zealand is going to release the level of quarterly retail sales on August 23, at 1:45 MT time.
The indicator of retail sales shows the change in the total value of sales at the retail level. Traders pay attention to it as it is one of the primary measures of consumer spending. During the previous release, the indicator advanced by 0.7%. The figures came out higher than the expectations of 0.6%. Despite that, the NZD weakened.
• If the level of retail sales is greater than expected, the NZD will go up;
• If the level of retail sales is weaker than expected, the NZD will go down.
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