Westpac Banking Corp. — News Archive


NZD Drops Sharply on Wednesday, Attempts to Bounce on Thursday

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.

NZ Dollar Rallies on Positive Sentiment, Dismisses Underwhelming Data

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.

Drop of Consumer Confidence Doesn’t Affect New Zealand Dollar

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

New Zealand Dollar Trades Higher on Monday

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

New Zealand Dollar Rallies Ignoring Domestic Fundamentals

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.

NZ Dollar Weak on Monday

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.

Australian Dollar Drops Together with Other Commodity Currencies

The Australian dollar fell today along with other commodity-related currencies despite relatively positive economic data from Australia. The most likely reason for the sluggish performance was concern about slowdown of the global economy.

NZ Dollar Gains as Economic Data Helps

The New Zealand dollar rallied today, gaining on its US peer for the second consecutive trading session and rising versus the Japanese yen as well. Economic data released from New Zealand at the start of this week’s trading was beneficial to the currency.

Fundamentals Prevent NZD from Rallying

The New Zealand dollar attempted to rally today but failed and slid below the opening level. Economic data from New Zealand was not particularly supportive for the currency, and concerns about tomorrow’s manufacturing report from China further eroded bullishness of the kiwi.

Aussie Jumps as Westpac Drops Interest Rate Cut Forecast

The Australian dollar jumped today as Westpac Banking Corp. said that it no longer expects an interest rate cut from the Reserve Bank of Australia. Such comments boosted the currency even though there are analysts who still expect lower borrowing costs in the South Pacific country.