NZ Dollar Falls as China’s Reports Overshadow Domestic Data

The New Zealand dollar fell during the Friday’s trading session. While domestic macroeconomic data was decent, some of the reports from New Zealand’s biggest trading partner, China, were disappointing.
The seasonally adjusted BusinessNZ Performance of Manufacturing Index edged down from 53.7 in October to 53.5 in November. Despite the small decline, the index remained slightly above the long-term average, and the report commented on the result:

With two of the three months for the last quarter on 2018 producing results around the long-term average, this bodes well for the year to end on more of a positive note after lacklustre results during the middle of 2018.

Yet the good domestic data was unable to prevent the kiwi from falling due to some lackluster reports from China.
NZD/USD declined from 0.6856 to 0.6800 as of 11:26 GMT today. NZD/CHF went down from 0.6818 to 0.6770, touching the low of 0.6747 intraday.

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Your email address will not be published.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 *

eighty five + = 90