NZ Dollar Falls with Building Permits

The New Zealand dollar fell today against most-traded counterparts, including the US dollar, against which the kiwi was rising during the previous three trading sessions.

The New Zealand currency behaved somewhat similar to its Australian counterpart, though its behavior was easier to understand as New Zealand macroeconomic data turned out to be rather poor. Statistics New Zealand reported that seasonally adjusted building permits declined by 9.6% in December from the previous month. Moreover, the November increase was revised from 10.8% to 9.6%.

NZD/USD declined from 0.7396 to 0.7355 as of 12:44 GMT today. EUR/NZD gained from 1.6911 to 1.6975.

If you have any questions, comments or opinions regarding the New Zealand Dollar,
feel free to post them using the commentary form below.

Leave a Reply

Your email address will not be published. Required fields are marked *