The New Zealand dollar was somewhat soft today after the nation’s manufacturing sector demonstrated contraction last month. The currency has trimmed losses against some of its rivals, though, and stood its ground versus safer currencies as the risk sentiment stabilized.
The New Zealand dollar declined today following yesterday’s gains. While the positive news about the US-China trade conflict supported riskier commodity currencies yesterday, a big miss in some important Chinese macroeconomic indicators overshadowed the supportive fundamentals today.
The New Zealand dollar gained today against major currencies. One of the possible reasons for the gains was profit-taking after yesterday’s huge slump. Another one was positive data from China — the world’s second-largest economy and New Zealand’s biggest trading partner. The gains were limited, though, as central bank’s assistant governor suggested a possibility of another interest rate cut.
The New Zealand dollar gained against most of its major peers today. While the kiwi has lost gains versus its US counterpart by now, it was still trading higher against other peers. Market analysts attributed the rally to the positive consumer inflation print, though some of them argued that the data is not as good as might seem at first glance.
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 was weak across the board today, though managed to trim losses against some of its rivals by now. One of the possible reasons for the currency’s poor performance was the deteriorating 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.
The New Zealand dollar dropped initially after the Reserve Bank of New Zealand made a monetary policy announcement today, hinting at possibility of an interest rate cut in the future. But the currency rebounded almost immediately and is trading now far above the opening level.
The New Zealand dollar rallied against other most-traded currencies today after nation’s trade data showed extremely positive results.
The New Zealand dollar was heading to end the Friday’s trading session mixed. The same goes for the whole week as the currency gained on some rivals but fell versus others. The next week should be very important for the kiwi and can help establish a more clear trend.
