Analysis of recent Kiwi → Dollar forecasts for 2024. We collate forecasts from respected FX analysts together with the latest New Zealand dollar to US dollar performance and trends.
Forecasts for NZD to USD
Recent forecasts and market updates suggest that the New Zealand Dollar (NZD) has been facing challenges due to declining risk appetite and changing global economic conditions. The NZD experienced a decline against the USD and other major currencies, attributed to factors such as US inflation surpassing estimates and lower commodity prices. Despite a weaker performance in February, the NZD has shown resilience against the Aussie dollar and the yen, driven by sustained labor strength and potential interest rate increases by the Reserve Bank of New Zealand (RBNZ).
On the other hand, the US Dollar (USD) has seen a rally following unexpected acceleration in inflation, boosting market expectations of a rate cut from the Federal Reserve in the near future. Strong economic indicators, such as the January job report, have led to a shift in market sentiment, delaying potential rate cuts and supporting the USD.
Looking ahead, FX analysts suggest that the NZD/USD exchange rate may continue to face downside pressure in the near term, hovering between 0.60 and 0.62, pending further clarity on US rate cuts. Factors such as domestic data, global growth outlook, and US interest rate decisions will play crucial roles in shaping the direction of the currency pair moving forward. Investors should closely monitor central bank updates, inflation trends, and labor market performance as key indicators influencing the NZD to USD exchange rate.
@bestfxrates : NZDUSD struggles amid US inflation & commodity price dip. FX analysts eye 0.60-0.62 range with RBNZ hikes vs. Fed cuts ahead. Key indicators: central bank signals, inflation, job stats. Market watches RBNZ resilience & US economic strength. Stay tuned for pivotal updates. #Forex #NZDUSD #CurrencyTrading
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Date
NZD/USD
Change
Period
04 Mar 2024
0.6095
0.2% ▼
2 Week
19 Dec 2023
0.6266
2.9% ▼
3 Month
19 Mar 2023
0.6272
3% ▼
1 Year
20 Mar 2019
0.6918
12% ▼
5 Year
21 Mar 2014
0.8536
28.7% ▼
10 Year
23 Mar 2004
0.6604
7.9% ▼
20 Year
NZD/USD historic rates & change to 18-Mar-2024
Will the New Zealand dollar rise against the US dollar?
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Read our Currency guide to the United States - a practical currency and money guide to travel, living and doing business in the United States with the US dollar.
Forecasts disclaimer: Please be advised that the forecasts and analysis of market data presented on BestExchangeRates.com are solely a review and compilation of forecasts from various market experts and economists. These forecasts are not meant to reflect the opinions or views of BestExchangeRates.com or its affiliates, nor should they be construed as a recommendation or advice to engage in any financial transactions. Read more