The market participants were gladdened by the data released in the statistical agencies of New Zealand and Japan.
Thus in New Zealand, due to the record sales of cars and spare parts, the retail sales reading surged to 1.3% quarter on quarter which is very positive data amid a lowering trend continuing since the middle of 2010.
The investors’ favours influenced on the kiwi – greenback pair which increased by 30 pips. Under the conditions of a low volatility such upmove at 01:00 A.M. according to InstaTrader terminal time, evoked attention. Thus the pair was trading around 0.8105 pips.
The New Zealand dollar, nevertheless, was falling versus the Australian dollar.
The market players are unsure of the monetary policy stimulation carried out by the central bank of New Zealand. The current rate is agreeable to the neighboring country – Australia.
Meanwhile, the Bank of Japan can take a decision to implement additional economic stimulation measures, which is understood from the minutes of the monetary policy meeting in the Bank of Japan.
To remind, the trade week has started with the disappointing data on a sluggish economic growth in Japan. Thus in quarter two, the GDP grew only by 0.3%.
According to the minutes, the governors of the central bank are trying to find out more effective ways to bolster economy.
