The New Zealand dollar attempted to rally today, but failed and followed its Australian counterpart in decline. The currency dropped even as the inflation print came out better than expected.
New Zealand Dollar NZD
Detailed information and fundamental factors
Central Bank: Reserve Bank of New Zealand
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
New Zealand Manufacturing PMI Slips, NZ Dollar Pays Little Attention
April 13, 2018 at 14:18 New Zealand Dollar
New Zealand manufacturing PMI fell last month, as was shown by the report released by Business NZ today, though that had limited impact on the performance of the New Zealand dollar. The currency rallied intraday but has retreated by now.
NZ Dollar Drops Even as Building Consents Climb to Multi-Year Record
March 29, 2018 at 10:21 New Zealand Dollar
The New Zealand dollar fell today despite positive domestic macroeconomic data released during the current trading session.
NZ Dollar Mixed After Consumer Confidence Release
March 28, 2018 at 11:35 New Zealand Dollar
The New Zealand dollar was mixed today after the release of the consumer confidence report.
New Zealand Dollar Climbs on Risk Appetite, Economic Data
March 26, 2018 at 11:11 New Zealand Dollar
The New Zealand dollar rallied today as fears about trade wars eased as the United States and China started negotiating about a trade agreement. New Zealand macroeconomic data released overnight turned out to be better than expected, adding to the upward momentum of the currency.
NZ Dollar Mixed, Pays Little Heed to RBNZ Policy Announcement
March 22, 2018 at 12:06 New Zealand Dollar
The New Zealand dollar was mixed today, rising against some currencies and falling versus others. The kiwi paid little attention to the policy announcement from the Reserve Bank of New Zealand, trading sideways following the decision.
Positive Economic Data Fails to Support New Zealand Dollar
March 21, 2018 at 13:21 New Zealand Dollar
The New Zealand dollar fell against other major currencies and, similarly to its Australian counterpart, ignored domestic macroeconomic data, which was extremely good.
NZ Dollar Driven Down by Economic Data, Risk Aversion
March 16, 2018 at 9:32 New Zealand Dollar
The New Zealand dollar dropped today, joining other commodity-geared currencies in decline, driven down by domestic macroeconomic data as well as the general risk-averse market sentiment.
NZ Dollar Fails to Rally, Dragged Down by Risk Aversion
March 2, 2018 at 12:58 New Zealand Dollar
The New Zealand dollar attempted to rally today, but the attempt has failed, and the currency is trading below the opening level as of now.
NZ Dollar Rallies vs. US Dollar in Thursday’s Trading
March 1, 2018 at 19:53 New Zealand Dollar
The New Zealand rose against its US peer today. While domestic macroeconomic data was good, it had little impact on the New Zealand currency, and the likely reason for its rally versus the greenback was the weakness of the US currency itself.