The New Zealand dollar dropped against other most-traded currencies today as nation’s manufacturing sector almost stopped expanding last month. The general negative market sentiment wasn’t helping the currency either.
New Zealand Dollar NZD
Detailed information and fundamental factors
Central Bank: Reserve Bank of New Zealand
Interest Rate: 1.50%
Public Debt to GDP Ratio, 2017: 32%
Trade Balance, 2017: -$1.39 bln.
Inflation, 2017: 2.2%
Supporting Factors
Major commodity exporter
weak
The New Zealand dollar is the currency that is used in New Zealand, as well as in the Cook Islands, Niue, Tokelau, and the Pitcairn Islands. It is often nicknamed “kiwi”. The currency replaced the New Zealand pound in 1967. It is about 10th most-traded currency in the world and is often used in carry trade because of relatively high interest rates in New Zealand. The major industry of New Zealand is agriculture, wool, meat and dairy products being the most important components of the sector. Australia is the main trading partner of New Zealand and China is the second-biggest.
New Zealand Dollar News Archive
NZD/CAD to Test the Important 0.8692 Weekly Level
June 12, 2019 at 6:56 Canadian Dollar, New Zealand Dollar, Technical Analysis
The pair could have a place to recover from, but the current context might just favor the continuation of the descent.
AUD/NZD Facing a Dilemma at the Important 1.0546 Support
June 5, 2019 at 7:27 Australian Dollar, New Zealand Dollar, Technical Analysis
The Australian dollar versus the New Zealand dollar currency pair is caught in between the bullish and bearish plans, with both parties being of equal strength right now.
NZ Dollar Falls on Market Sentiment, Domestic Data
May 29, 2019 at 12:09 New Zealand Dollar
The New Zealand dollar fell today as negative domestic macroeconomic data and the risk-off market sentiment drove the currency down.
Bulls Back in the Loop on NZD/CAD
May 27, 2019 at 6:27 New Zealand Dollar, Technical Analysis, US Dollar
The New Zealand dollar versus the Canadian dollar appreciated after confirming the important weekly 0.8692 support.
NZ Dollar Fails to Hold Ground in Face of Risk Aversion
May 17, 2019 at 11:47 New Zealand Dollar
While the New Zealand dollar was attempting to rally earlier today despite risk aversion prevailing on the market, currently the kiwi has retreated, trading below the opening level against many of its most-traded rivals. Domestic macroeconomic data did nothing to help the currency of New Zealand.
AUD/NZD Looks Bearish
May 17, 2019 at 5:15 Australian Dollar, New Zealand Dollar, Technical Analysis
The Australian dollar vs. New Zealand dollar looks to be poised for a bearish move, even if the descending trend told a different story.
Bulls Vanquished on NZD/CAD
May 15, 2019 at 7:00 Canadian Dollar, New Zealand Dollar, Technical Analysis
In front of a big chance, the bulls were not able to manage the situation on the New Zealand dollar versus the Canadian dollar and missed out the opportunity to direct the price towards the previous high, at 0.9281.
NZ Dollar Licks Wounds After RBNZ Cuts Interest Rates
May 8, 2019 at 15:59 New Zealand Dollar
The New Zealand dollar sank today after the Reserve Bank of New Zealand cut interest rates. By now, the currency managed to erase a big chunk of losses, though it is still trading below the opening level.
NZ Dollar Edges Higher After Wednesday’s Slump
May 2, 2019 at 11:07 New Zealand Dollar
The New Zealand dollar edged higher today following yesterday’s huge slump even though macroeconomic data released during today’s trading session was negative. The plunge during the previous session was caused by worse-than-expected jobs data.