New Zealand Dollar Plummets Against Rivals

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1. New Zealand Dollar Plummets Against Rivals

The New Zealand dollar slid to a three-month low on Wednesday as weaker-than-expected consumer inflation figures for the first quarter were viewed as increasing the odds of an interest rate cut. The currency was last seen trading 0.7 percent lower against the euro and Australian dollar, while against the greenback the NZD sipped 0.3 percent as of 7:11 GMT.*  

2. Aussie Hits Two Month High, Euro Bounces

The Aussie hit two-month peak after steady China growth data, shooting to a two-month peak on Wednesday. The AUD was last seen trading 0.3% higher against the dollar and 0.7% against its New Zealand counterpart as of 7:15 GMT. Meanwhile, the U.S. dollar, often regarded as a safe haven, sagged against the euro after the Chinese data eased concerns about a global economic slowdown. The euro also recovered some of yesterday’s losses rising 0.3% against the dollar as of 7:22 GMT this morning.**

3. Gold Remains Subdued

Spot gold paired some of its losses on Wednesday to last trade at 1278.94 per ounce as of 7:25 GMT, after having fallen as much as 1.2 percent to $1,272.70, its lowest since Dec. 27, in the previous session. Gold prices still remain below the key $1,280 level and are near a four-month trough, as better-than-expected economic readings from China lifted Asian shares and sharpened risk appetite, denting the metal’s safe-haven appeal.***

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Sources
*Financial Times Apr 17, 2019 2:48 AM ET
**Reuters Apr 17, 2019 3:53 AM ET
***CNBC Apr 17, 2019 03:07 AM ET

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