The New Zealand dollar rose sharply today after a report showed that the business confidence improved this month, though remained negative.
The ANZ business confidence index climbed to -24.1 in December from -37.1 in the previous month. The report said:
– Expected profitability and employment, investment and export intentions rose, and perceived availability of credit jumped sharply.
– Marring the picture a little, most indicators for the agriculture sector deteriorated.
The construction sector was the most optimistic, while the retail sector was the most pessimistic.
NZD/USD surged from 0.6799 to 0.6869 as of 10:47 GMT today. EUR/NZD declined from 1.6674 to 1.6576, touching the daily low of 1.6531.
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