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New Zealand Dollar NZD
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 stable today. While it moved a little lower against some of its rivals, the kiwi for the most part did not go far from the opening level. Trading is going to be quieter than usual on Thursday and Friday due to the Thanksgiving holiday in the United States.
The Australian versus the New Zealand dollar currency pair seems to be under decisive bearish dominance. Can the bulls make their way to 1.0707? Long-term perspective After the 1.0566 low validated the 1.0551 firm support area, the price climbed until the 1.1043 peak, just above the equally durable 1.0903 resistance area. Once there, the bulls had no choice but to retreat, as the bears were set to defend the area. As a result, […]
The New Zealand dollar was the strongest among the most-traded currencies on the Forex market today. The most likely reason for such a great performance was the request made to the central bank’s chief by the finance minister.
The New Zealand dollar was stable today as markets have entered a consolidation mode after optimism caused by the positive coronavirus vaccine news earlier this week started to wane. Macroeconomic data released in New Zealand overnight was mixed.
The Australian versus the New Zealand dollar currency pair seems to be searching for a resistance area. But could the bears take advantage of this context?
Commodity currencies were among the weakest on the Forex market today as the optimism caused by the news about a coronavirus vaccine continued to wane. The New Zealand dollar was the biggest loser, falling even against its commodity-linked counterparts. Negative domestic macroeconomic data put additional pressure on the currency.
The New Zealand dollar jumped yesterday and was trying to extend its rally today but failed to do so and has retreated by now. The reason for the jump was easy to pinpoint — the less certain outlook for negative interest rates from New Zealand’s central bank. The reason for the retreat is harder to identify but the most likely factor is the rally of the US dollar.
The Australian versus the New Zealand dollar currency pair seems to have been limited in its attempt to switch to bullish mode.
The New Zealand dollar rose against most of its major rivals today. Markets still wait for the outcome of the US presidential election. But while uncertainty surrounding the election results make investors nervous, it seems markets are in a risk-on mode. As for New Zealand’s macroeconomic data released today, it was not bad, though it was not great either.
The Australian versus the New Zealand dollar currency pair managed to rotate from the 1.0592 low, thus acknowledging the lower line of the descending channel.
