New Zealand dollar rises as cigarette prices push March inflation higher

0 132

The New Zealand dollar rose slightly after the country published its first-quarter inflation figures. Figures showed that higher cigarette prices and rents pushed annual inflation to 2.5% from the previous 1.9%. This number was higher than the 2.1% that traders had expected. Headline CPI rose 0.8% on a quarterly basis. These numbers come at a time when the state is considering lifting coronavirus restrictions.



The AUD/USD pair is unchanged today and is trading at 0.6345, the high of last week's low of 0.6263. The price is also lower than last week's high of 0.6445. On the hourly chart, the current price has consolidated along the 100 and 25 day exponential moving averages. The price is slightly along the 61.8% Fibonacci retracement level. It also formed a symmetrical triangle pattern. Therefore, the pair may break in either direction today.New Zealand dollar rises as cigarette prices push March inflation higher


The NZD/USD pair rose slightly as investors reacted relatively poorly to New Zealand's CPI. The pair rose to a high of 0.6022, which was just above the day's low of 0.6000. Price is along the 50% Fibonacci retracement level on the hourly chart. It is also slightly above the 25-day and 14-day exponential moving averages. Therefore, the pair may continue to rise as New Zealand begins to ease the coronavirus lockdown.New Zealand dollar rises as cigarette prices push March inflation higher has no relation whatsoever with Metaquote and we have no responsibility regarding their products offered by our Sponsors.

Seize the chance to earn real money instantly!
Take 4 simple steps along the path to success and financial independence
Open a trading account
Beginner traders can start their career in forex Practice on a demo account
Download - Powerful, reliable and proven trading platform
System requirements: Windows 7 and later versions
platform for Android
System requirements: Android 4.0 and above, 3G/WiFi
platform Ctrade for iOS
System requirements: iOS 4.0 or later, 3G/Wifi
Deposit to your trading account through any convenient payment system
Great bonuses guarantee your confident start in trading
Bonuses are added ranging in size From 20% to 50% to your account every time you make a deposit
Related topics
Inline Feedbacks
View all comments