020 7898 0500- New Zealand was glad to see the hump of the week over as the local currency gained strength on Wednesday. The country’s 2014 current account balance reached a deficit equivalent to 3.3% of Gross Domestic Product (a measure of growth), better than the 3.4% expected, while fourth quarter data showed a balance in deficit by NZ$3.2 billion. This saw the New Zealand dollar gain on its US counterpart, trading at 0.7314 at end of play on Wednesday.
- Downbeat Canadian sales data saw the Canadian dollar very much rooted at six-year lows against its neighbour. Wholesale sales dropped 3.1% in January, dramatically lower than original expectations. This added to what has been a poor week for Canada, following weak manufacturing sales data earlier in the week.
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