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New Zealand Dollar NZD
Central Bank: Reserve Bank of New Zealand
Interest Rate: 1.75%
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 surged along with other commodity currencies today on the news about a temporary truce in the trade war between the United States and China. The kiwi was unable to beat its Australian counterpart, which emerged as the strongest on the Forex market.
The New Zealand dollar gained today. Domestic macroeconomic data released overnight was good, but it does not seem to contribute much to the currency’s rally.
The New Zealand dollar fell today as the business confidence remained negative. Yet by now, the currency has trimmed losses, erasing them outright against some of its rivals.
The New Zealand dollar gained today after the Reserve Bank of New Zealand released the Financial Stability report. Gains were limited, though, as market participants were waiting for new developments in the trade war between the United States and China.
The New Zealand dollar rose today despite New Zealand’s trade balance, which was released overnight, missed expectations.
The New Zealand dollar dropped today even though domestic macroeconomic data released overnight beat expectations.
The New Zealand dollar declined against its most-traded rivals today even after data released overnight showed that the manufacturing sector expanded with accelerating pace.
The New Zealand dollar fell against some of its most traded rivals, including the US dollar and the Japanese yen, today. The most likely reason for the losses was the slowing producer inflation in China, New Zealand’s major trading partner.
The New Zealand dollar jumped against all of its most-traded rivals today as employment data released in New Zealand overnight came out much better than was expected.
The New Zealand dollar attempted to rally earlier today but failed and moved below the opening level. The slight improvement of the business confidence was not enough to support the currency.
