NZ dollar sinks after shocking US manufacturing, retail data

Thu, 16 Apr 2020

The New Zealand dollar sank after shockingly bad US retail sales and manufacturing data made fear the dominant sentiment driving major equities markets amid the ongoing coronavirus crisis. The kiwi was trading at 59.55 US cents at 5pm in Wellington from 60.66 cents at the same time yesterday. The trade-weighted index was at 67.90 from 68.58. The US manufacturing data showed output posted the largest drop since 1946, plummeting 6.3 percent, while US retail sales slumped 8.7 percent last month, the worst fall on record. "It was pretty ba...

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