Forex - Aussie holds steady kiwi moves lower in late trade

© Reuters. Aussie little changed, kiwi lower despite upbeat N.Z. data

Investing.com - The Australian dollar was steady against its U.S. counterpart on Monday, while the New Zealand dollar slipped lower despite the release of upbeat local retail sales data, as disappointing economic reports from China dampened risk sentiment.

was little changed at 0.7892.

The greenback mildly recovered from losses posted on Friday after the U.S. Commerce Department said . A separate report released a day earlier showed that and its core reading both unexpectedly declined in July.

The weak data was seen as lowering chances that the Federal Reserve will stick to its plans for a third interest rate hike this year.

slipped 0.15% to trade at 0.7309.

Earlier Monday, Statistics New Zealand said retail sales increased by in the second quarter, beating expectations for a 0.7% rise.

, which exclude automobiles and gas stations, gained 2.1% in the three months to June, after an upwardly revised 1.5% gain in the previous quarter.

But demand for risk-related assets remained weak after a separate report on Friday showed that China’s industrial production rose in July, below expectations for an increase of 7.2%.

and also rose less-than-expected last month.

The weak data fueled fresh . China is Australia’s biggest export partner and New Zealand’s second biggest export partner.

The , which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.11% at 93.09, just off a one-week low of 92.83 hit on Friday.

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