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NZ dollar steady ahead of retail data; bonds firmer
Thursday November 12, 09:35 AM
WELLINGTON, Nov 12 (Reuters) - The New Zealand dollar NZD= was little changed in familiar ranges on Thursday, as investors reassessed the prospects for global recovery ahead of local retail sales data.
* Kiwi resumes local session around $0.7385, compared with late Wednesday trade when it was slightly above $0.74.
* Kiwi rangebound between $0.7350-$0.7450, unable to advance as the U.S. dollar hit a 15-month low against a basket of currencies .DXY as Fed comments backed the view U.S. interest rates would remain low well into 2010. [ID:nN10315173]
* Closely-watched Chinese economic data produced a mixed set of results, with strong factory output tempered by weaker investment. [ID:nPEK212006]
* Local investors awaiting third-quarter retail data due at 10.45 a.m. 2145 GMT) to see if there is further evidence of the economic recovery. A Reuters poll is picking a flat showing for sales volumes for the quarter, but a rise of 0.4 percent pick-up in September monthly activity. [NZ/POLL]
* Reserve Bank of New Zealand's (RBNZ) six monthly financial stability report released on Wednesday says current high level of the NZ dollar is likely not sustainable and may hinder recovery and rebalancing of the economy. See [ID:nWEL462345]
* Kiwi seen holding $0.7350-$0.7450 range in the short term, with wider trend still seen upward on the back of U.S. dollar weakness.
* NZ bonds a shade firmer as U.S. Treasuries were steady in the wake of an auction of benchmark 10 year notes.
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