The New Zealand dollar behaved similarly to its Australian counterpart today, falling intraday but trimming losses later. Market analysts explained the decline by the sharp drop of major Asian stock indices.
As for reports from New Zealand itself, the only macroeconomic indicator released was the food price index. It showed growth by 0.4% in February, without adjustments for seasonal variations. Seasonally adjusted, the index increased 0.7%.
The currency will likely be affected by macro releases in China during tomorrow’s Asian session.
NZD/USD traded at 0.6846 as of 17:47 GMT today after opening at 0.6858 and falling to the daily low of 0.6828. EUR/NZD was at about 1.6501 following the earlier rally from the opening of 1.6451 to the daily high of 1.6537.
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