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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 plummeted today following the monetary policy announcement of the Reserve Bank of New Zealand released by the end of yesterday’s trading session. While the central bank left its monetary policy unchanged, the statement was more dovish than market participants had expected.
The New Zealand dollar was mixed today after decent macroeconomic data and ahead of the central bank’s monetary policy meeting.
The New Zealand dollar fell versus its most-traded peers, with the exception of the extremely weak Japanese yen, after underwhelming macroeconomic releases in New Zealand as well as in New Zealand’s major trading partner — China.
The New Zealand dollar was firm today despite domestic macroeconomic data that showed a surprise trade deficit.
The New Zealand dollar rallied today, rising for the fourth consecutive trading session against some of its rivals, including the US dollar and the euro.
The New Zealand dollar gained against some currencies but fell versus European ones, like the euro and the Swiss franc, most likely because the European Union was able to reach an agreement about immigration.
The New Zealand dollar slumped today after the Reserve Bank of New Zealand released monetary policy statement that was more dovish than market participants had anticipated.
The New Zealand dollar fell against its most-traded peers today following the mixed macroeconomic reports and ahead of the central bank’s policy meeting.
The New Zealand dollar fell today after a report showed that the New Zealand economic growth slowed last quarter. The currency managed to trim losses by now, erasing them against the US dollar entirely.
The New Zealand dollar gained on its most-traded rivals today, though not on the extremely strong euro. Such good performance was surprising, considering the risk-off market sentiment and the worsening outlook for New Zealand’s economic growth.
