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NZ Dollar Rallies Intraday, Trims Gains Later

October 12, 2018 at 11:13 by Vladimir Vyun

A heap of NZD billsThe New Zealand dollar rose today, though the currency has trimmed its gains by now, losing them outright against some rivals.

The seasonally adjusted BusinessNZ Performance of Manufacturing Index fell to 51.7 in September from 52.0 in August. The report commented on the result:

 

New Zealand’s manufacturing sector remained within a tight and low level of expansion for September.

Unlike many other Asian currencies, New Zealand did not get a downgrade for the growth outlook in 2019 from the International Monetary Fund. On the contrary, New Zealand’s economic growth got an upgrade by 0.1 percentage point to 3.0%.

NZD/USD traded near the opening level of 0.6511 as of 11:03 GMT today after rising to the high of 0.6533 intraday. NZD/JPY gained from the opening of 72.98 to 73.10 but retreated from the daily high of 73.32.

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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