The NZD-SEK cross is showing a near 1% gain, with the NZ dollar
having outperformed following a better-than-forecast manufacturing PMI survey in New Zealand, which came in at 52.0, up from 51.2 in the month prior.
Global Banking News-December 15, 2017--New Zealand finance minister comfortable with trend of NZ dollar
This article focuses on recent developments in the global FX market and uses of the NZ dollar
in global markets.
The NZ dollar
has taken a sharp dive in the wake of worse-than-expected unemployment data, as it came in at 5.8%.
Australian Dollar 1.74 Bulgarian Lev 2.22 Canadian Dollar 1.76 Croatian Kuna 8.67 Czech Koruna 30.82 Egyptian Pound 10.49 Euro 1.21 Hungarian Forint 347.39 NZ Dollar
1.84 Polish Zloty 4.74 S African Rand 16.74 Swiss Franc 1.42 Thai Baht 50.60 Turkish Lira 3.45 UAE Dirham 5.82 US Dollar 1.61
"It is also interesting to note falling interest in New Zealand - possibly because of the strengthening of the NZ dollar
against the pound, which increases property prices for Britons."
Earlier the Australian dollar fell on softer than expected consumer price index (CPI) data, dragging the NZ dollar
with it but the NZ dollar
rose against the Australian dollar.
Standard & Poor's Ratings Services revised its outlook on Spain to negative from stable because of lower expected gross domestic product growth.Today the NZ dollar
gained in early trade as New Zealand's central bank signalled that it could start raising interest rates as early as the second quarter of next year.
This result has relevance for common currency since a frequently cited reason for maintaining an independent NZ dollar
is the need to counter the exchange rate impact of Australian minerals shocks.
Also included in the model is the nominal exchange rate (E), which is given as Australian dollars per NZ dollar
. For Australia the interest rate variable employed is the official cash rate.
This result might seem surprising, given that transaction costs for most NZ dollar
financial products are substantially higher than similar US dollar products.
The Dollar, meanwhile, has posted a fresh one-year low against the Brexit-afflicted Pound, and has hit 28-month highs against the NZ Dollar
, which has sharply underperformed today following more dovish than expected monetary policy guidance by the RBNZ.