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New Zealand Dollar NZD
Central Bank: Reserve Bank of New Zealand
Public Debt to GDP Ratio, 2017: 32%
Trade Balance, 2017: -$1.39 bln.
Inflation, 2017: 2.2%
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.
The New Zealand dollar, as well as its Australian counterpart, was strong today. The currencies rose against their most-traded rivals even as economic growth in China, the biggest trading partner of both New Zealand and Australia, was slower than expected. The miss was small, though, and other Chinese macroeconomic indicators were within expectations.
The New Zealand dollar gained today after a report released overnight showed that inflation accelerated last quarter more than was expected.
The New Zealand dollar rose today, though the currency has trimmed its gains by now, losing them outright against some rivals.
The New Zealand dollar was down against most major currencies today after the uneventful policy meeting of the nation’s central bank.
The New Zealand dollar behaved similar to its Australian counterpart, rising intraday but trimming gains later. New Zealand’s macroeconomic data released over the trading session was mixed, though the currency paid more attention to the good part.
The New Zealand dollar jumped yesterday thanks to the faster-than-expected economic growth and continued to rise today as macroeconomic data released over the current trading session was also solid.
Macroeconomic data released in New Zealand today was unfavorable to the New Zealand dollar. Yet the currency managed to rise nonetheless, likely boosted by the same positive sentiment that helped its Australian counterpart.
The New Zealand dollar was relatively firm today. That is surprising considering that macroeconomic data was overwhelmingly negative to the currency.
The New Zealand dollar tumbled today after macroeconomic data showed that the business confidence deteriorated and the number of building consents fell.
The New Zealand dollar rallied today after the country’s trade balance deficit shrank unexpectedly last month. The currency gained on almost all of its most-traded rivals, though it has pared gains versus the euro by now.
