ANZ — News Archive

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.

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.

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

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.

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.

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.

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.

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

The Australian dollar traded flat-to-lower today after the release of underwhelming macroeconomic reports in Australia. Economic data in China, Australia’s biggest trading partner, was neutral, having a limited impact on the currency.

The New Zealand dollar rose sharply today after a report showed that the business confidence improved this month, though remained negative.