New Zealand Dollar edges lower below 0.6000 after weaker Retail Sales data
The NZD/USD pair declines to around 0.5970 during the early Asian session on Monday. The New Zealand Dollar (NZD) weakens against the US Dollar (USD) following New Zealand's downbeat economic data.
The New Zealand Dollar (NZD) slipped to around 0.5970 against the US Dollar (USD) early Monday during the Asian trading session. This decline occurred after New Zealand reported unfavorable economic data, signaling a weakening of the currency. While traders will monitor the upcoming US Personal Consumption Expenditures (PCE) Price Index report later in the week, the recent release of data by Statistics New Zealand showed a disappointing drop in Retail Sales for the second quarter of 2026.
Retail Sales fell by 0.5% quarter-over-quarter (QoQ), falling short of the expected 0.1% decline. Conversely, Retail Sales excluding automotive sales rose by 0.7% QoQ, up from a 1.1% increase in Q1. This mixed report contributed to the NZD's decline. Additionally, geopolitical tensions between the US and Iran added to the appeal of the US Dollar as a safe-haven currency, negatively impacting the NZD/USD pair.
Analysts note that the NZD's value is influenced by various factors, including economic growth, inflation, interest rates, and geopolitical events.
Written by urgent.news from FXStreet's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
