Westpac Banking Corp. — News Archive

The New Zealand dollar traded about flat against most of its major peers by the end of the Tuesday’s trading session. The worsening consumer sentiment did not hurt the currency much.

The Australian dollar ended the week as one of the weakest currencies on the Forex market despite mild risk appetite, caused by hopes for a positive outcome in the Sino-US trade negotiations that were extended through the weekend.

The Australian dollar rallied earlier during the Thursday’s trading session on the back of robust domestic employment growth but retreated later due to a range of negative fundamentals.

The euro today dropped to new 2019 lows against the US dollar in the early European session as the selling pressure on the single currency mounted. The pair reversed its losses later in the session as investor sentiment shifted and the US dollar gave up some of its earlier gains.

The New Zealand dollar dropped sharply yesterday after the policy announcement from the US Federal Reserve and extended losses after the release of mixed domestic macroeconomic data. The currency is attempting to bounce today, but by now the kiwi has lost gains it had posted earlier.

Macroeconomic data released in New Zealand today was unfavorable to the New Zealand dollar. Yet the currency managed to rise nonetheless, likely boosted by the same positive sentiment that helped its Australian counterpart.

The New Zealand rose today, joining its Australian counterpart in a rally, even though the New Zealand consumer confidence dropped this month.

The New Zealand dollar gained today thanks to both good macroeconomic data released from New Zealand itself and the general risk-positive market sentiment.

Economic data released from New Zealand today was not particularly good, but it had little bearing on the nation’s currency that joined a rally of other high-beta currencies.

The New Zealand dollar declined against its US counterpart today as traders thought that the greenback’s decline last week was overdone. The kiwi was also weak against its other major peers.