The euro was heading to end Friday as the weakest major currency on the Forex market. The shared 19-nation currency fell even against the US dollar, despite rising initially after the release of terrible US nonfarm payrolls. At the same time, the euro is currently trying to rebound versus the New Zealand dollar.
The euro was soft today, falling against almost all most-traded currencies. The only exception was the New Zealand dollar, which failed to maintain the intraday rally versus the euro. While domestic macroeconomic data was somewhat disappointing, the upcoming monetary policy meeting of the European Central Bank was the main driver for the common currency of the eurozone.
The New Zealand dollar was trading in the green today, rising against the majority of most-traded currencies, except for the Australian dollar and the Great Britain pound. The kiwi rallied because the market sentiment seemed to favor riskier currencies. Domestic macroeconomic data was positive, while reports in China, New Zealand’s biggest trading partner, were mixed.
The New Zealand dollar was soft today, falling against many of its most-traded rivals. That is despite positive macroeconomic reports released during Thursday’s trading session in New Zealand and China, New Zealand’s biggest trading partner.
The New Zealand dollar traded largely flat today, though it managed to gain on some of the majors, including the US dollar. The kiwi got a boost from positive domestic macroeconomic data as well as better-than-expected reports in China.
The New Zealand dollar was the strongest among the most-traded currencies on the Forex market today. The most likely reason for such a great performance was the request made to the central bank’s chief by the finance minister.
Commodity currencies were among the weakest on the Forex market today as the optimism caused by the news about a coronavirus vaccine continued to wane. The New Zealand dollar was the biggest loser, falling even against its commodity-linked counterparts. Negative domestic macroeconomic data put additional pressure on the currency.
The New Zealand dollar jumped yesterday and was trying to extend its rally today but failed to do so and has retreated by now. The reason for the jump was easy to pinpoint — the less certain outlook for negative interest rates from New Zealand’s central bank. The reason for the retreat is harder to identify but the most likely factor is the rally of the US dollar.
The New Zealand dollar rose against most of its major rivals today. Markets still wait for the outcome of the US presidential election. But while uncertainty surrounding the election results make investors nervous, it seems markets are in a risk-on mode. As for New Zealand’s macroeconomic data released today, it was not bad, though it was not great either.
The New Zealand dollar rallied against major currencies today, though was unable to beat its commodity-linked counterparts. Market analysts explained the rally by the sharp rebound of crude oil prices after an intraday decline. Positive macroeconomic data from New Zealand itself and the country’s biggest trading partner, China, was also supporting the kiwi.
