NZD/USD drops to two-week lows after upbeat US Retail Sales, clings to 0.5900

The New Zealand Dollar (NZD) remains defensive against the US Dollar (USD) and registers solid losses after dropping to a two-week low of 0.5870. Howe

NZD/USD bounces off a two-week low, trading around 0.5908. US Retail Sales for September surpass expectations; Industrial Production also beats forecasts. New Zealand's Q3 CPI comes in below estimates, with a yearly rate easing to 5.6%. ver, buyers reclaim the 0.5900 figure, targeting a challenge of 0.5942, the 50-day moving average . At the time of writing, the NZD/USD is trading at 0.5908. Kiwi Dollar reclaims 0.

Meanwhile, Fed officials are crossing newswires, led by Richmond Fed President Thomas Barkin, saying the Fed has a restrictive policy stance and that despite longer-term rates having risen, the Fed can’t rely on them for further tightening. Barkin added that he’s unsure of his view on the upcoming monetary policy meeting. Earlier in the Asian session, the New Zealand docket featured the Consumer Price Index , which rose by 1.8% in Q3, below estimates of 2%. Still, the yearly rate eased to 5.

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