FXstreet.com (Sydney) - The AUD gained on the Kiwi as the pair went from 1.2577 at opening to 1.2609. This represents a move of 0.29%.

A rise of 0.1% in retail spending in New Zealand during the September quarter suggests a slow recovery. Appliances were up 6.5%, followed by a 3.8% rise in clothing. On the downside, vehicle sales dropped 2% and department store sales were also down by 3.1%.

However, the Kiwi will hitch its fortunes on the Aussie in the near term. The Aussie is gaining against most currencies following a jump in the unemployed to 5.8% in October.

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