FX.co ★ NZX 50 Rises on Fed Hint, Strong Retail Sales Data

The NZX 50 experienced an uptick of 72 points, or 0.55%, reaching 13,114 in Monday morning's session, as the market rebounded from a previous 1.2% decline. This uplift was driven by broad-based gains, fueled by Wall Street's record high on Friday. The positive sentiment can be attributed to Federal Reserve Chair Powell's remarks at the Jackson Hole symposium, indicating the possibility of the central bank easing its policy as early as the upcoming month. On the domestic front, New Zealand's retail sales data revealed a 0.5% increase quarter-on-quarter in Q2 2025, surpassing the anticipated 0.2% and marking the third consecutive quarterly rise. Further optimism stemmed from the potential of new stimulus measures from China, New Zealand's primary trading partner, following indications of slowed activity in July that heightened concerns over trade restrictions and internal economic challenges. However, the potential for further gains was moderated as investors awaited the release of August's business and consumer confidence data in New Zealand, scheduled for later in the week. Leading the early gains were Eroad, up 4.3%, Scales Corp. with a 3.6% increase, AFT Pharma rising by 2.7%, and Gentrack Group up 2.6%.