Kiwi faring up on economic positives - BNZ

Analysts at BNZ noted the losses for the NZD on Friday were smaller compared to others, amidst a trifecta of positive economic news.

Key Quotes:

"Fonterra raising its projected milk payout for the current season by 75 cents to $6 per kg/milk solids, the ANZ consumer confidence index rising to its highest level since April 2015, and real retail sales rising by 0.9% q/q in the September quarter, continuing their strong run.

The NZD ended Friday down “just” 0.2% to 0.7010, its lowest level in four months and almost losing the 70 handle in afternoon trading. Without the support of domestic economic releases like NZ, the AUD fell by 0.9% to 0.7340, driving further gains in NZD/AUD to 0.9560."