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New Zealand Dollar NZD
Central Bank: Reserve Bank of New Zealand
Public Debt to GDP Ratio, 2016: 34%
Trade Balance, 2016: -$2.87 bln.
Inflation, 2016: 0.6%
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 rose today, reaching the highest level since August 7 and gaining for the fourth consecutive day on the Japanese yen. The currency got support from opinion polls regarding the upcoming general election in New Zealand and the current account report.
The New Zealand rose today, joining its Australian counterpart in a rally, even though the New Zealand consumer confidence dropped this month.
The New Zealand dollar gained today as domestic data revealed that the New Zealand manufacturing sector continued to expand with accelerating pace last month.
The New Zealand dollar was stable today even as China’s macroeconomic data was disappointing, dragging Asian stocks down. China is the biggest trading partner of New Zealand, therefore economic performance of the Asian nation often strongly affects the South Pacific currency.
The New Zealand dollar fell today, declining for the second consecutive day versus the US dollar and the Japanese yen. The currency was attempting to hold its ground at the beginning of the trading session but resumed the downward movement after the report showed a drop of the business confidence.
The New Zealand dollar fell against its US counterpart today but held steady versus other majors. Comments for the central bank’s chief and domestic macroeconomic data were detrimental to the currency.
The New Zealand dollar fell today after the country’s government released its budget projections for the year.
The New Zealand dollar fell today, dragged down by underwhelming employment data. The currency was in a retreat for four consecutive sessions versus the euro and for five against the Japanese yen.
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.
The New Zealand dollar rose today on the positive market sentiment. Yesterday’s disappointing inflation data did not prevent today’s rally.
