EUR/NZD — News Archive

The New Zealand dollar rallied today, though it has trimmed gains against some of its rivals by now. The catalyst for the rally was the release of surprisingly good domestic employment data.

Markets were rather directionless today, and the New Zealand dollar was no different. While negative domestic macroeconomic data was weighing on the currency, it managed to stay flat against some of its most-traded rivals and even to rise versus others.

The New Zealand dollar climbed against all other most-traded peers today thanks to the relatively positive domestic macroeconomic data and the market sentiment that was supportive of riskier currencies.

The New Zealand dollar was the weakest among the most-traded currencies on the Forex market today. While domestic macroeconomic data could have played a part in the decline, market analysts speculated that the major reason for the drop was the brewing trade war between the United States and China.

The New Zealand dollar was among the strongest currencies today amid the mildly positive market sentiment. The currency waits for tomorrow’s monetary policy decision from the Reserve Bank of New Zealand. No economic reports were released in New Zealand today while yesterday’s data was not bad but not particularly good either.

The New Zealand dollar attempted to rally today following a surprisingly positive employment report that showed that New Zealand unexpectedly added jobs last quarter. The currency has retreated against some of its rivals by now but managed to keep gains versus others.

The New Zealand dollar was trading either flat or slightly higher against other currencies, including its commodity-related counterparts. The kiwi got a boost from positive macroeconomic data released in both China, New Zealand’s biggest trading partner, and New Zealand itself. The optimistic market sentiment was helping the currency too.

The euro fell against the US dollar and the bigger-than-expected slump of the German business climate and the disagreement between the European Union members about how to tackle financial stimulus to the economy. Against other rivals the euro was mixed.

The New Zealand dollar dropped today after the Reserve Bank of New Zealand made a surprise announcement of a quantitative easing program. Currently, the kiwi has trimmed its losses but is still trading below the opening level against its most-traded counterparts, with the exception of the Australian dollar. The Aussie was dragged down by bond purchases under the quantitative easing program of its own central bank.

The New Zealand dollar dropped to new multi-year lows against other most-traded currencies today. Losses were across the board as the kiwi was falling even against other vulnerable commodity currencies. Even the GDP report that came out in line with expectations was unable to help the New Zealand currency.