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by ForexNewsNow Team on December 14, 2010

New Zealand retail sales fall far more than expected

New Zealand flagNEW YORK (Forex News Now) – New Zealand retail sales fell badly in October, data showed in one of the week’s major realtime forex news events affecting the kiwi.

In a report that should have some impact on currency market trading, Statistics New Zealand said that the total value of retail sales fell by 2.5% in October, after rising by 1.7% the previous month.

Late analysis had forecast a fall of 0.8% in sales, according to two major online FX trading news outlets.

Another report released simultaneously showed core retail sales (all retail excluding automobiles) dropped by 1.6%, more than the expected drop of 1.0%.

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