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New Zealand Dollar NZD
Central Bank: Reserve Bank of New Zealand
Interest Rate: 1.00%
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 was somewhat soft today after the nation’s manufacturing sector demonstrated contraction last month. The currency has trimmed losses against some of its rivals, though, and stood its ground versus safer currencies as the risk sentiment stabilized.
The New Zealand dollar declined today following yesterday’s gains. While the positive news about the US-China trade conflict supported riskier commodity currencies yesterday, a big miss in some important Chinese macroeconomic indicators overshadowed the supportive fundamentals today.
The New Zealand dollar ended the week as the weakest among most-traded currencies. The major reason for the poor performance was a larger-than-expected interest rate cut by New Zealand’s central bank, but risk aversion also played a significant part.
The New Zealand dollar gained today against major currencies. One of the possible reasons for the gains was profit-taking after yesterday’s huge slump. Another one was positive data from China — the world’s second-largest economy and New Zealand’s biggest trading partner. The gains were limited, though, as central bank’s assistant governor suggested a possibility of another interest rate cut.
The New Zealand dollar versus the Canadian dollar currency pair managed to confirm as resistance the the last bearish standing point.
The Reserve Bank of New Zealand surprised markets today, cutting interest rates more than was expected. As a result, the New Zealand dollar sank against almost all of its most-traded rivals. While the currency has trimmed losses by now, it is still trading far below the opening level. Surprisingly, the kiwi managed to gain on the Great Britain pound, which remains under pressure from fears of a hard Brexit.
The New Zealand dollar versus the Canadian dollar currency pair is in a spot from where it could go either way for a considerable amount of time and pips.
The New Zealand dollar rose today after the nation’s trade surplus widened unexpectedly last month.
The New Zealand dollar versus the Canadian dollar currency pair is in a very aggressive ascending phase, and orchestrated by other factors it might be able to pierce the 0.8900 psychological level and turn it into a support.
The New Zealand dollar gained against most of its major peers today. While the kiwi has lost gains versus its US counterpart by now, it was still trading higher against other peers. Market analysts attributed the rally to the positive consumer inflation print, though some of them argued that the data is not as good as might seem at first glance.
