The GDP data put a halt of Kiwi - Strengthening kiwi in a five-day streak stopped for a while after the release of gross domestic product data were disappointing New Zealand. Bureau of Statistics New Zealand reported a second-quarter gross domestic product grew 0.4% from the first quarter, lower than economists expected 0.5%. While compared with the previous year, GDP grew 2.4%, and became the lowest in the last two years.
Further decline in the kiwi will test support at 0.6310, needed a break below that area to go down further to test 0.6375 area. Meanwhile, to further strengthen the kiwi needs to pass through the support 0.6390, with a target of 0.6430.
Further decline in the kiwi will test support at 0.6310, needed a break below that area to go down further to test 0.6375 area. Meanwhile, to further strengthen the kiwi needs to pass through the support 0.6390, with a target of 0.6430.
