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NZ Dollar Strong Despite Mixed Data from China

January 31, 2018 at 13:12 by Vladimir Vyun

Kiwi denominationsThe New Zealand dollar was extremely strong today, jumping more than 1% against such most-traded currencies as the US dollar and the Japanese yen, despite mixed economic reports from New Zealand’s biggest trading partner — China.

The China Federation of Logistics and Purchasing reported that the manufacturing Purchasing Managers’ Index slipped from 51.6 to 51.3 in January. Meanwhile, the non-manufacturing PMI gained from 55.0 to 55.3.

Earlier this week, a report showed that New Zealand’s trade balance turned to a surplus unexpectedly.

NZD/USD climbed from 0.7327 to 0.7412 as of 13:08 GMT today. NZD/JPY surged from 79.69 to 80.67.

If you have any questions, comments, or opinions regarding the New Zealand Dollar, feel free to post them using the commentary form below.

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