NZ dollar sinks after shocking US manufacturing, retail data

NZ dollar sinks after shocking US manufacturing, retail data
Jenny Ruth
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...

More Markets

Volatile stocks drive NZ sharemarket down nearly 0.5%
Markets Market Close

Volatile stocks drive NZ sharemarket down nearly 0.5%

The S&P/NZX 50 Index closed at 12.844.59, declining 60.45 points or 0.47%.

Graham Skellern 05 Feb 2025
Lyttelton Port result improves but CEO says it's not enough
Infrastructure

Lyttelton Port result improves but CEO says it's not enough

The CEO says Lyttelton Port does not generate sufficient returns on its capital base. 

Rebecca Howard 05 Feb 2025
Sky CFO Ciara McGuigan resigns in surprise departure
Markets

Sky CFO Ciara McGuigan resigns in surprise departure

Embattled broadcaster Sky TV is losing its chief financial officer with immediate effect.The pay-TV operator, facing a barrage of customer anger over poor satellite reception in recent weeks, announced the resignation of Ciara McGuigan on Wednesday.Her departure, effective immedi...

Staff reporters 05 Feb 2025
Ex-contractors reveal Harvey Norman business model pressures
Retail Exclusive

Ex-contractors reveal Harvey Norman business model pressures

The promise of big money can require extreme flexibility from ‘proprietors’.

Gregor Thompson 05 Feb 2025