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NZ Dollar Rises Sharply After Business Confidence Improves

December 18, 2018 at 10:58 by Vladimir Vyun

Assortment of Kiwi dollar billsThe New Zealand dollar rose sharply today after a report showed that the business confidence improved this month, though remained negative.

The ANZ business confidence index climbed to -24.1 in December from -37.1 in the previous month. The report said:

 

– Expected profitability and employment, investment and export intentions rose, and perceived availability of credit jumped sharply.
– Marring the picture a little, most indicators for the agriculture sector deteriorated.

The construction sector was the most optimistic, while the retail sector was the most pessimistic.

NZD/USD surged from 0.6799 to 0.6869 as of 10:47 GMT today. EUR/NZD declined from 1.6674 to 1.6576, touching the daily low of 1.6531.

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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