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New Zealand Dollar (NZD) - BER Currency Guide

In this currency guide we look at :

  1. NZD General Info
  2. NZD Market View
  3. NZD News & Updates
  4. NZD Cross Rates

New Zealand Dollar General Info

The three letter currency code for the New Zealand Dollar is NZD and the symbol is $. It is the domestic currency in Cook Islands, New Zealand, Niue, Pitcairn and Tokelau.

The New Zealand dollar is informally called the ‘kiwi’ by foreign exchange traders and analysts due to the kiwi bird, which is native to New Zealand, being something of a national symbol for the country. The kiwi bird is also depicted on New Zealand’s one-dollar coin.

Although the New Zealand dollar is considered one of the eight FX ‘majors’, it is actually only the world’s eleventh most traded currency. Apart from the other seven majors – the US dollar, euro, yen, pound, Australian dollar, Canadian dollar and Swiss franc – the New Zealand dollar’s share of the foreign exchange market (around 2%) also falls behind that of the Mexican peso, the Chinese yuan and the Swedish krona. The currencies of China and Mexico are not considered majors due to their emerging market status, while the krona’s share of the market has only exceeded that of the New Zealand dollar fairly recently (in 2016, according to the Bank for International Settlements) and so is not yet considered ahead of New Zealand’s currency.

In the past two decades, the New Zealand dollar’s lowest value against the US dollar occurred in October 2000 when the NZD/USD exchange rate traded at just 0.3901. The currency’s two-decade high occurred in August 2011 when NZD/USD reached 0.8842, although it could be said that this high valuation was achieved twice, because in July 2014 the exchange rate reached 0.8836, just several pips shy of that achieved in 2011.

Among the majors, the New Zealand dollar is considered a riskier currency, which means that its value will fall against the larger majors (especially JPY, USD, CHF, GBP and EUR) during periods of economic uncertainty or when global geopolitical risk is elevated, or during bouts of high market volatility.

NZD - Market View

The New Zealand dollar came unstuck in August.

In late July and August, investors began to realise that unlike other central banks, the RBNZ would not be hiking interest rates anytime soon; the central bank said as much at its August meeting. The RBNZ remains cautious on inflation.

In late August, the New Zealand dollar fell to a fourteen-month low against EUR (0.6009) and within a whisker of a sixteen-month low against AUD (0.9074). Against USD, the kiwi was steady in the mid-0.72s but was down 3.3% on the month.

Decision makers at the RBNZ will be happy with the kiwi’s August decline. The bank governor, Graham Wheeler, expressed a desire for NZD to fall at the bank’s August meeting.

In September, Dutch bank ABN Amro predicted NZD/USD would rise to 0.82 by the end of 2018. As reasons for the pair’s climb, ABN cited “strong conviction” on future US dollar weakness, future commodity price rises, an improvement in global trade and potential rate hikes (in 2018) by the RBNZ.

NZD/USD - 08:00 NZST

1 Day  1 Week: New Zealand Dollar was up against the United States Dollar with the NZD/USD at 0.7366, a rise of 0.67% and also up for the last 7 days with a rise of 1.86%.

3 Month Trend: NZD/USD is trending mid 3-month range [Hi:0.7522, Lo:0.7150] and for the quarter is up 1.36%.

New Zealand Dollar - News & Market Updates

All Eyes on Federal Reserve Ahead of Key Policy Announcements Today

Sterling GBP/USD 1 Week Chart The Pound (GBP) struggled to advance yesterday as rumours circulated that Foreign Secretary Boris Johnson may quit Theresa May’s cabinet in protest over her plans for Brexit. While Johnson was quick to deny these claims, the reports of a split at the top of the Conservative leadership over the government’s... View article >
Posted on 20 September 2017 | 9:21 am GMT
Author: TorFX

New Zealand Dollar Jumps as New Election Poll Suggests National Party Victory

The New Zealand dollar jumped by three-quarters of a percent against many of the majors on Wednesday evening after the latest election poll showed a clear swing in public opinion back towards the incumbent National Party. New Zealand’s general election will take place in three days’ time, on Saturday September 23rd. NZD/USD is now seen... View article >
Posted on 20 September 2017 | 7:59 am GMT
Author: Joel Wright

Sterling Sentiment Mixed in Wake of Carney Speech

Sterling GBP/USD 1 Week Chart Market sentiment towards the Pound (GBP) was mixed on Monday in the wake of a speech by Bank of England (BoE) Governor Mark Carney. Sterling tumbled against some of its peers yesterday afternoon as the BoE Governor suggested that the pace of future interest rate rises was likely to remain... View article >
Posted on 19 September 2017 | 9:03 am GMT
Author: TorFX

Pound Slips from Best Levels as Markets Await Carney Speech

Sterling GBP/USD 1 Week Chart The Pound (GBP) began to slide against the majority of its peers this morning as markets become subdued in advance of a speech by Bank of England (BoE) Governor Mark Carney later today. With the BoE hinting last week that it may begin tightening its monetary policy in the near... View article >
Posted on 18 September 2017 | 12:09 pm GMT
Author: TorFX

ABM Amro Has “Strong Conviction” on Future Dollar Weakness; Predicts 12% Rise in AUD and NZD

New forecasts from Dutch bank ABN Amro see continued weakness in the US dollar heading into and throughout 2018. “We have a strong conviction that the US dollar has entered a multi-year downtrend,” said ABN’s Georgette Boele. The dollar will be hardest hit against “growth sensitive and commodity currencies,” according to the bank, which include... View article >
Posted on 18 September 2017 | 4:47 am GMT
Author: Joel Wright

Sterling Soars, Yen the Casualty at the End of Eventful Week

The British pound rose on Friday to its highest level against the dollar since the UK’s historic ‘Brexit’ vote in June of last year. By lunchtime in London, the pound was buying $1.3616, capping a brilliant fortnight in which it has risen from rates close to $1.29. On minor profit taking, the currency settled back... View article >
Posted on 16 September 2017 | 5:50 am GMT
Author: Joel Wright

Pound Soars on BoE Rate Hike Speculation

Sterling GBP/USD 1 Week Chart The Pound (GBP) skyrocketed against the other majors on Thursday after hints from the Bank of England (BoE) that interest rates may be hiked in the near future caused markets to go into overdrive. Adding to this was a speech by BoE Governor Mark Carney yesterday evening in which he... View article >
Posted on 15 September 2017 | 9:36 am GMT
Author: TorFX

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