The New Zealand dollar fell today, dropping for the fourth consecutive day against the Japanese yen, following the release of the trade balance report that failed to meet market expectations.
New Zealand Dollar NZD
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
The New Zealand dollar climbed today thanks to the positive manufacturing report released overnight and the supportive general market sentiment.
The New Zealand dollar was almost flat against its US counterpart but fell against such currencies as the euro and the Japanese yen amid underwhelming domestic macroeconomic data and the unfavorable general market sentiment.
This week’s trading has started with a risk-positive sentiment on the Forex market. That, coupled with favorable domestic data, made the New Zealand dollar open sharply higher, though the currency has retreated by now.
The New Zealand dollar declined for the second consecutive session today as economic data released from New Zealand overnight failed to meet economists’ expectations.
The New Zealand dollar surged intraday after the nation’s central bank released its inflation expectations, but the currency retreated later, trimming its gains against the euro and the Japanese yen, while losing them completely versus the US dollar.
The New Zealand dollar fell today despite faster-than-expected growth of consumer prices. The probable explanation for the lackluster performance was slow growth of Chinese industrial profits.
The New Zealand dollar fell today, dropping for the six consecutive day against the US dollar, following the release of a worse-than-expected trade balance report.
The NZD/USD pair made a minor recovery during today’s trading session even as the US dollar continues to gain ground against other major currencies. The US dollar is demonstrating significant upward momentum as the market’s appetite for the dollar shows no signs of abating.
The NZD/USD currency pair continued with the upward trend witnessed on Monday during Tuesday’s trading session. The bullish run led to the pair hitting levels above its 100-day SMA, which is a crucial support point.