NZD/USD drops to two-week lows after upbeat US Retail Sales, clings to 0.5900

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• NZD/USD bounces off a two-week low, trading around 0.5908.
• US Retail Sales for September surpass expectations; Industrial Production also beats forecasts.
• New Zealand’s Q3 CPI comes in below estimates, with a yearly rate easing to 5.6%.

The New Zealand Dollar (NZD) remains defensive against the US Dollar (USD) and registers solid losses after dropping to a two-week low of 0.5870. However, buyers reclaim the 0.5900 figure, targeting a challenge of 0.5942, the 50-day moving average (DMA). At the time of writing, the NZD/USD is trading at 0.5908.