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NZ Dollar Drops, Touching 4-Year Low vs. US Dollar

The New Zealand dollar dropped today, touching the lowest level in four years versus its US counterpart. The currency was dragged down by poor domestic macroeconomic data and the general risk-off sentiment on the Forex market. A positive report about China’s manufacturing sector limited the downside momentum, though.

NZ Dollar Moves Back and Forth amid Conflicting Fundamentals

The New Zealand dollar was volatile today amid clashing fundamentals. The currency started the session weak due to soft domestic macroeconomic data but rebounded after the market sentiment improved. Currently, though, the kiwi pulled back once again but retained gains versus safer currencies.

Poor Economic Data Doesn’t Prevent Kiwi from Rallying

The New Zealand dollar was strong today even as, unlike its Australian peer, it had no support from macroeconomic data. Reports released over the trading session both in New Zealand and its biggest trading partner, China, were rather poor.

NZ Dollar Rebounds Despite Worsening Business Confidence

The New Zealand dollar dropped initially today as the domestic business confidence worsened. But the currency rebounded later as the general market sentiment was relatively positive and supportive to riskier currencies.

NZ Dollar Falls on Market Sentiment, Domestic Data

The New Zealand dollar fell today as negative domestic macroeconomic data and the risk-off market sentiment drove the currency down.

NZ Dollar Edges Higher After Wednesday’s Slump

The New Zealand dollar edged higher today following yesterday’s huge slump even though macroeconomic data released during today’s trading session was negative. The plunge during the previous session was caused by worse-than-expected jobs data.

NZ Dollar Gets Lifted by Positive News from China

The New Zealand dollar rallied today, lifted by positive news from China. China’s service sector expanded more than was expected, while rumors circulated that the United States and China are close to a trade deal.

NZ Dollar Stable Despite Deteriorating Consumer Sentiment

The New Zealand business confidence deteriorated this month, and the outlook was rather pessimistic. Yet surprisingly, the New Zealand dollar held its ground versus most-traded rivals, even gaining on European currencies like the euro and the Swiss franc.

NZ Dollar Soft After China Slashes Growth Target

The New Zealand dollar slumped against its most-traded rivals today. The likely reason for the significant drop was news from China as domestic fundamentals looked good, giving the currency no reason to decline.

NZ Dollar Weak amid Risk Aversion, Mixed Data

The New Zealand dollar fell on Thursday amid risk aversion and mixed macroeconomic reports.

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