THE New Zealand dollar has gained against the euro after European Central Bank president Mario Draghi signalled more monetary easing in the euro region.
The New Zealand dollar traded at 62.66 euro cents at 5pm in Wellington, little changed from the morning and up from 62.40 cents on Friday.
The kiwi was at 86.24 US cents from 86.16 cents at 8am in Wellington and from 86.10 cents at the New York close on Friday.
Dr Draghi said last week that Europe's recovery is "at a slow pace and it still remains fairly modest" after keeping the ECB's benchmark interest rate at a record low of 0.25 per cent.
Figures on Thursday are expected to show the euro area economy grew 0.4 per cent in the first quarter, picking up pace from a 0.2 per cent rate three months earlier.
"The euro is clearly in focus after the ECB head warned that growth is a concern," said Alex Hill, head of dealing at HiFX.
Traders will be watching New Zealand first-quarter retail sales, scheduled for Wednesday and expected to show growth slowed to 0.5 per cent from 1.2 per cent, while US retail sales probably slowed to 0.4 per cent in April from 1.1 per cent in the previous month.
Also on Wednesday, Reserve Bank governor Graeme Wheeler is scheduled to speak after the release of the latest financial stability report and later to parliament's finance committee and traders will be listening for any insight into the pace of interest rate increases, Mr Hill said.
The New Zealand dollar traded at 92.07 Australian cents from 91.96 Australian cents at the start of the day and from 92.25 cents on Friday.
The kiwi dollar rose to 87.95 yen from 87.77 yen at the start of the day and from 87.82 yen on Friday.
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