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>>NZD/USD slides sharply despite strong retail sales, as the RBNZ’s dovish stance catches markets off guard.

NZD/USD slides sharply despite strong retail sales, as the RBNZ’s dovish stance catches markets off guard.

crypthub

about 2 hours ago

NZD/USD Falls Amid Strong Retail Sales

The pair fell 0.8% to 0.6120 on Thursday despite a 1.8% QoQ rise in retail sales, the strongest in two years. It broke the 50‑day moving average (0.6150) and the 0.6100 support, with volume at 150% of the 30‑day average. The move shows central‑bank guidance can outweigh data.

RBNZ Dovish Shift Weakens Kiwi

The RBNZ kept the cash rate at 5.50% but removed talk of future hikes and warned of downside growth risks. The dovish tone signaled possible cuts, prompting a sharp re‑pricing of the Kiwi. Analysts say policy expectations now dominate over past data.

Technical and Global Context

Support breaks triggered algorithmic stop‑loss orders, deepening the fall. The U.S. dollar index rose while other commodity currencies held, highlighting New Zealand‑specific policy as the driver. Traders now eye upcoming inflation and risk sentiment.