AUD/NZD remains unchanged near 1.0450 post-NZ data

• AUD/NZD prints some gains on Tuesday in the Asian trading session.
• The Aussie manages to hold some ground on lesser coronavirus cases and vaccine booster optimism.
• Kiwi remains grounded on better economic data.

AUD/NZD retreats after printing some initial gains on Monday in the Asian session. The pair has been in continuous downside momentum for two months, after making a high at 1.0824 on June 14.

At the time of writing, AUD/NZD is trading at 1.0457, up  0.02% for the day.

A combination of factors weighing the performance of the Australian dollar against its counterpart.

The Aussie remained pressurized on the extension of lockdown amid renewed COVID-19 jitters and downbeat economic data at home.

Market participants remained cautious amid the worsening domestic coronavirus situation. New South Wales reported 800+ fresh cases on Sunday. The IHS Markit Australia Services PMI dropped to the lowest in 15 months.

It is worth noting that S&P 500 Futures were trading at 4,479 with 0.85% gains.

On the other hand, Kiwi gained on the better COVID-19 situation. New Zealand’s Finance Minister Grant Robertson said the country is in a strong position to handle the lockdown.

On the data front, Retail Sales rose 3.3% in     Q1 in June, following an upwardly revised 2.8% increase.

As for now, the market dynamics continue to influence the pair’s performance in the short term.

AUD/NZD additional levels