NZ Dollar Gains Even as Manufacturing Sales Slow

The New Zealand dollar gained today despite slowing growth of manufacturing sales.

Manufacturing sales grew 0.5% in the September quarter from the previous three months. That is slower than the growth of 3.4% in the June quarter, which itself was revised down from 3.9%. Yet the kiwi did not fall after the report, probably due to the good economic data from China, New Zealand’s major trading partner.

NZD/USD rallied from 0.6828 to 0.6841 as of 13:00 GMT today. NZD/JPY rose from 77.22 to 77.63.

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