NZ Dollar Bounce After Decline Caused by China’s Data

The New Zealand dollar fell today following the release of reports that showed slower growth of both consumer and producer prices in China, New Zealand’s biggest trading partner. Yet the currency managed to bounce and is now trading either at or above the opening levels versus its most-traded rivals.

The National Bureau of Statistics of China reported that the Consumer Price Index rose by 1.5% in January from a year ago, in line with expectations, following the 1.8% increase in the prior month. The Producer Price Index increased by 4.3%, compared to the average forecast of 4.4% and the December gain of 4.9%.

NZD/USD traded at 0.7222 as of 11:37 GMT today after opening at 0.7216 and falling to the daily low of 0.7197. NZD/JPY rallied from 78.46 to 78.81.

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Your email address will not be published.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 *