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AUD/USD and NZD/USD Fundamental Analysis: China Trade Up Next
It is a relatively busy start to the day for the NZD/USD. Electronic card retail sales and Business PMI numbers for June were in focus. After the RBNZ Rate Statement on Wednesday, the electronic card retail sales figures drew more interest. Electronic card retail sales increased by 1.0% in June versus a 1.7% decline in May. Economists forecast a 0.2% decline. The increase in consumption could test the RBNZ theory of ending the monetary policy tightening schedule. Business PMI numbers were less upbeat, with the PMI falling from 48.9 to 47.5 in June versus a forecasted 49.8. Later this morning, trade data from China ... (full story)