The New Zealand dollar rallied today, boosted by a better-than-expected trade balance. Dovish comments of a central bank official had limited impact on the currency.
New Zealand Dollar NZD
Detailed information and fundamental factors
Central Bank: Reserve Bank of New Zealand
Public Debt to GDP Ratio, 2016: 34%
Trade Balance, 2016: -$2.87 bln.
Inflation, 2016: 0.6%
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
NZ Dollar Gains on Market Sentiment, Pays No Heed to Inflation
July 19, 2017 at 11:34 New Zealand Dollar
The New Zealand dollar rose today on the positive market sentiment. Yesterday’s disappointing inflation data did not prevent today’s rally.
NZ Dollar Down After Underwhelming Electronic Card Spending
July 11, 2017 at 12:56 New Zealand Dollar
The New Zealand dropped after the release of disappointing electronic card spending data.
NZ Dollar Rallies on Trade Data, Loses Gains Later
June 27, 2017 at 13:57 New Zealand Dollar
The New Zealand dollar rallied today following the release of trade data. By now, the currency has almost lost all of its gains and erased them completely against the euro.
NZ Dollar Rallies After RBNZ Policy Meeting
June 22, 2017 at 11:03 New Zealand Dollar
The New Zealand dollar rose today after the monetary policy meeting of the Reserve Bank of New Zealand dollar, which was considered to be hawkish by market participants.
NZ Dollar Rebounds as Manufacturing Expansion Accelerates
June 16, 2017 at 13:54 New Zealand Dollar
The New Zealand dollar rebounded after yesterday’s slump versus the US dollar today and continued to rise against the Japanese yen for the fourth consecutive day.
New Zealand Dollar Driven Down by GDP
June 15, 2017 at 12:34 New Zealand Dollar
The New Zealand dollar fell today, driven down by disappointing economic growth of the New Zealand economy.
NZ Dollar Gains Despite Surging Current Account Deficit
June 14, 2017 at 12:40 New Zealand Dollar
The New Zealand dollar gained today, ignoring the surging current account deficit. That means that the currency was driven by outside factors.
NZ Dollar Posts Limited Losses, Attempts to Bounce vs. Euro
June 1, 2017 at 10:51 New Zealand Dollar
The New Zealand dollar fell today, but its losses were limited. In fact, the currency almost erased the decline versus the euro.
New Zealand Dollar Gains on Improving Outlook for Economy
May 31, 2017 at 11:12 New Zealand Dollar
The New Zealand dollar gained today, reaching the highest level since March 2 against its US counterpart, as the New Zealand central bank was relatively upbeat about domestic economic developments. Businesses felt the same way as the business confidence improved.