NZ Dollar Falls with Consumer Confidence

The New Zealand dollar fell today due to mild risk aversion on the Forex market as well as falling consumer confidence in New Zealand.
Westpac Consumer Confidence fell from 103.5 to 103.1 in September. The report commented on the result:

While households are more optimistic about their personal financial situation, they have become increasingly downbeat about the economic outlook more generally.

Despite the fall in borrowing rates in recent months, households are reluctant to spend and are instead focused on paying down debt.

NZD/USD fell from 0.6342 to 0.6329 as of 8:03 GMT today. EUR/NZD advanced from 1.7339 to 1.7400.

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

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