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NZ Dollar Higher After CPI Data

The New Zealand dollar strengthened against its major counterparts in the Asian session on Tuesday, after a data showed that the nation's consumer inflation rose in line with expectations in the second quarter.

Data from Statistics New Zealand showed that consumer prices rose 0.6 percent on quarter, after rising 0.1 percent in the previous three months.

On a yearly basis, consumer prices climbed 1.7 percent - again matching forecasts and up from 1.5 percent in the three months prior.

Asian shares are trading mixed as investors await U.S. retail sales data due later in the day and more corporate earnings results to gauge the health of the world's largest economy.

The kiwi appreciated to 1.6715 against the euro, its highest since April 29. At yesterday's close, the pair was worth 1.6752. If the kiwi rises further, 1.64 is seen as its next resistance level.

The kiwi climbed to near a 3-month high of 0.6738 against the greenback from Monday's closing value of 0.6719. The next possible resistance for the kiwi is seen around the 0.69 mark.

The NZ currency that closed Monday's trading at 72.51 against the yen spiked up to a new 2-week high of 72.76. On the upside, 75.00 is possibly seen as the next resistance for the kiwi.

The kiwi strengthened to a 5-day high of 1.0444 against the aussie, compared to 1.0475 hit late New York Monday. The kiwi is likely to target resistance around the 1.03 mark.

Looking ahead, U.K. ILO jobless rate for May, German ZEW economic sentiment index for July and Eurozone trade data for May are due in the European session.

Federal Reserve Governor Michelle Bowman will deliver remarks at a Fed Listens event in Atlanta at 8:15 am ET.

In the New York session, U.S. retail sales, industrial production and import price index - all for June, business inventories for May and NAHB housing market index for July will be out.

At 1:00 pm ET, Federal Reserve Chair Jerome Powell will give a speech titled "Aspects of Monetary Policy in the Post-Crisis Era" at the French G7 Presidency 2019 in Paris.

Federal Reserve Bank of Chicago President Charles Evans is set to speak in a television appearance on CNBC at 3:00 pm ET.

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