FX.co ★ New Zealand Stocks Retreat

On Wednesday, New Zealand's S&P/NZX 50 index declined by 0.7%, closing at 13,413, as it retracted the gains registered during the previous trading session. The downturn was evident across most sectors, notably healthcare, utilities, consumer non-durables, and communications. Investor sentiment remained cautious in anticipation of the US Federal Reserve's impending policy decision. Meanwhile, stronger-than-expected Australian inflation figures and mixed global earnings reports have kept the focus on anticipated changes to interest rates. Significant contributors to the index's decline included major companies such as EBOS Group, which fell by 2.9%, Infratil, down by 1.9%, Fisher & Paykel and A2 Milk each decreasing by 0.6%, along with Auckland International Airport, Meridian Energy, and Mainfreight, which dropped by 0.8%, 0.5%, and 0.5% respectively. Moving forward, attention is on upcoming local trade data, predicted to reveal a stagnant trade balance, as well as the release of business and consumer confidence figures.