Forex: NZD/USD hits 6-day high at 0.7953
_iNVEZZ.com Friday July 19th:_ The New Zealand dollar has been finding support today in robust visitor data and credit card billings, released earlier, with the NZD/USD rising to a six-day high at 0.7953 so far.
Credit Card Spending for the June year came out as a 5.4 percent rise, well up from the 2.4 percent in the prior period. Month-on-month card spending was up 2.6 following a 0.4 percent fall in May.
And Visitors Arrivals data for June, released by Statistics New Zealand, showed big gains in international arrivals. Australia, the country’s biggest tourism market, saw a six percent rise, while China which ranks second was 30.9 up in the period.
Despite these encouraging numbers though, in the year ended June arrivals from all countries totalled 2.637 million, which was unchanged from the previous year.
Andrea Blackburn, Statistics New Zealand population statistics manager, observed: “US and UK visitor numbers are both below the peaks seen in 2006, before the global economic downturn, but UK numbers have dropped much further. And a partial recovery in visitor numbers from the US over the last year means it now provides more visitors than any country besides Australia and China.”
US visitors were reported as four percent up compared with the June 2012 year but down 16 percent since 2006. Arrivals from the United Kingdom were down 12 percent on the previous year and 39 percent off the 2006 number.
The pair has eased from the day’s high so far to be at 0.7939 ahead of the New York opening.