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Bumper GDP Growth Prompts Strongest NZD In....>

FOREX
FOREX: Bumper GDP Growth Prompts Strongest NZD In Weeks
-NZD/USD sits just shy of the 50-dma at $0.6675 as quarterly GDP growth
unexpectedly doubled in Q2, underpinning the NZD's rise to the top of the
scorecard Thursday. This extends NZD/USD's winning streak to eight consecutive
sessions, extending the recovery from the year's lows to 2.5%.
-GBP also outperforms as August retail sales followed yesterday's inflation
numbers by coming in higher than expected. Firm demand for household goods
helped August sales rise vs. expectations of a fall. GBP/USD rallied just shy of
yesterday's highs, but looks on track to close above the 100-dma. Today's EU
summit in Salzburg keeps headline risk for GBP particularly high.
-NOK is the poorest performer in G10 despite the Norges Bank's 25bps rate hike.
While delivering on higher rates, the bank's 2019 rate path projections were
slightly flatter than many had expected, prompting a sharp rally in EUR/NOK.
Rate managed to briefly break above both the 200- and 50-dmas.
-US weekly jobless data and speeches from ECB's Weidmann and Praet are the
calendar highlights.

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