New Zealand Dollar NZD

 

Detailed information and fundamental factors

Central Bank: Reserve Bank of New Zealand

Interest Rate: 2.50%

Public Debt to GDP Ratio, 2011: 35.7%

Trade Balance, 2011: $2.01 bln.

Inflation, 2011: 4%

Sovereign Credit Ratings:

Fitch
AA+
Stable
Moody's
Aaa
Stable
S&P
AA+
Stable

Supporting Factors

Major commodity exporter

weak

The New Zealand dollar is the currency that is used in New Zealand, as well as in the Cook Islands, Niue, Tokelau, and the Pitcairn Islands. It is often nicknamed “kiwi”. The currency replaced the New Zealand pound in 1967. It is about 10th most-traded currency in the world and is often used in carry trade because of relatively high interest rates in New Zealand. The major industry of New Zealand is agriculture, wool, meat and dairy products being the most important components of the sector. Australia is the main trading partner of New Zealand and China is the second-biggest.



New Zealand Dollar News Archive

NZD Rises vs. USD as Current-Account Deficit Narrows

The New Zealand dollar rose against its US counterpart, but fell versus the Japanese yen today after data showed that the nation’s current-account deficit narrowed last quarter. The moves were not big as the market is quiet ahead of the Federal Reserve policy decision.

Good Domestic Fundamentals Do Not Help NZ Dollar

The New Zealand dollar retreated today even though domestic macroeconomic data was rather good and suggested that the economy is faring well.

NZ Dollar Weaker After RBNZ Meeting

The New Zealand dollar dropped today after the Reserve Bank of New Zealand maintained interest rates unchanged and suggested that it may intervene to weaken the currency. The currency erased the drop against the US dollar, but remained soft versus the Japanese yen.

NZ Dollar Slips as Wheeler Talks About Intervention

The New Zealand dollar fell today after Reserve Bank of New Zealand Governor Graeme Wheeler said that the central bank is prepared to weaken the currency.

NZ Dollar Drops as Trade Surplus Shrinks

The New Zealand dollar fell today as the trade balance surplus shrank last month more than was expected by market participants, adding to concerns about slowdown of global growth.

NZ Dollar Jumps as Employers Add Jobs & Unemployment Falls

The New Zealand dollar climbed today after country’s employers added more jobs than was expected. Moreover, the unemployment rate demonstrated huge (and unexpected) drop.

NZ Dollar Drops as RBNZ Intervenes

The New Zealand dollar dropped today as the Reserve Bank of New Zealand intervened, selling the currency, and signaled that it may do so again to halt the rally of the kiwi.

NZ Dollar Maintains Gains on Fed even as China’s Manufacturing PMI Falls

The New Zealand dollar gained today on hopes that the Federal Reserve will confirm that quantitative easing stays in place. The currency maintained gains even as China’s manufacturing growth slowed.

NZ Dollar Rallies on Anticipation of Building Approvals Growth

The New Zealand dollar jumped today on forecast that housing approvals will show growth with accelerating pace in tomorrow’s report. The currency performed rather good last week and started this week on a strong footing.

NZ Dollar Soft Even as Trading Surplus Widens

The New Zealand dollar rallied against its US counterpart today as New Zealand’s trading balance surplus surged above analysts’ expectations. The kiwi trimmed its advance versus the greenback later and fell against the Japanese yen despite the positive news.

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