The New Zealand dollar fell against other major currencies and, similarly to its Australian counterpart, ignored domestic macroeconomic data, which was extremely good.
Credit card spending rose 7.0% in February year-on-year and 0.7% month-over-month. The number of visitors arrived in New Zealand increased by 7% last month compared to the same period a year ago and by 2% from the previous month, showing a healthy state of the tourism sector, which is very important to the country. The Global Dairy Trade Price Index, released yesterday, was the only negative indicator, demonstrating a 1.2% drop of prices for dairy products — a major export commodity of New Zealand.
NZD/USD slid from 0.7173 to 0.7160 as of 13:16 GMT today, trading near the lowest level since January 10. EUR/NZD rallied from 1.7064 to 1.7159 — the highest since December 11.
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