The New Zealand dollar gained today thanks to both good macroeconomic data released from New Zealand itself and the general risk-positive market sentiment.
The Westpac McDermott Miller Consumer Confidence Index ticked up from 106 in August to 108 in September. The report commented on the result:
This pick-up in consumer confidence comes on the back of firm economic activity through mid-2016, with the latest GDP figures showing that the economy expanded by a solid 3.6% over the past year. And itâs looking like the economy will keep trucking along for the next year or so, with a range of economic indicators pointing towards continued momentum in activity.
This, together with investors’ risk appetite, helped the New Zealand currency to rise during the Monday’s trading session.
NZD/USD rose from 0.7253 to 0.7321 as of 14:43 GMT today. EUR/NZD dropped from 1.5350 to 1.5276.
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