Switch
Compare & Save on Foreign Exchange

NZ dollar NZD forecasts for 2020

#Forecasts #NZD

Bullish NZ dollar forecasts have all been surpassed with the NZD hitting US71c at year-end.

The NZD had a strong performance in November, up 6% against the USD and also enjoying strong gains against other major counterparts including EUR, AUD and JPY. A shift in risk demand could prompt a correction. NZD could trade between 0.69-0.74 depending on shifting risk sentiment. December Update

The NZD advance was driven by improved global optimism, strong domestic economic conditions, and a shift in monetary policy expectations. With improving business conditions, rising house prices and hopes of a recovery thanks to a vaccine, markets have moved away from an expectation the RBNZ will cut interest rates below 0% in the first quarter of 2021.

This correction has driven NZD gains against the AUD however the pace of further appreciation is expected by OFX to most likely slow through December.

Bullish 2020 year-end NZ dollar forecasts have all been surpassed with the NZD hitting US71c towards the end of December, its highest level against the US dollar since April 2018.

National Australia Bank (NAB) have revised upwards their NZ dollar forecasts now expecting the NZD/USD rate at US73c by June 2022, up from their previous forecast of US71c. For 2020, it saw the NZD at US68c by year-end, up from a predicted US66c however as mentioned above these forecasts have already been proven too conservative.

Risks to the NZD forecasts come in the form of US-China trade tensions (New Zealand has very strong trade links with China) and any subsequent depreciation of the Chinese yuan because of NZD’s high correlations with Asian currencies.

 

NZDEUR Trend & Alerts

NZDEUR at 0.5907 is 1.8% above its 90-DAY average, range 0.5565-0.5943.
|
NZ Dollar to Euro
⚇
Invert Rate
SELL EUR / BUY NZD

You can also read our full Foreign Exchange Guide to New Zealand.

NZD to AUD

Read more about FX Broker and Bank analysts’ predictions for AUD to NZD future trends in our blog article BER Review of AUD to NZD Broker & Bank Forecasts.


 

NZDAUD Trend & Alerts

NZDAUD at 0.9273 is 1.3% below its 90-DAY average, range 0.9205-0.9583.
|
NZ Dollar to Australian Dollar
⚇
Invert Rate
SELL AUD / BUY NZD

What is a good NZD dollar exchange rate?

This is a difficult question and the answer really depends on many factors. The best way to consider an exchange rate’s current relative value is to look at the rate’s history against a range of currencies and in particular against the currency you are interested in exchanging it with.

For example, the following tables look at the change in the NZD exchange rate to the present day for periods going back 10 years for popular SGD exchange rates.

NZD/USDChangePeriod
0.7266
07 Jan 2021
0.6% ▼1 Week
0.7087
15 Dec 2020
1.9% ▲30 Days
0.6607
16 Oct 2020
9.3% ▲90 Days
0.6619
15 Jan 2020
9.1% ▲1 Year
0.6465
16 Jan 2016
11.7% ▲5 Years
0.7722
17 Jan 2011
6.5% ▼10 Years

NZD/USD 10 year historic rates & change to 14-Jan-2021 : 0.7222

NZD/AUDChangePeriod
0.9354
07 Jan 2021
0.8% ▼1 Week
0.9377
15 Dec 2020
1% ▼30 Days
0.9330
16 Oct 2020
0.5% ▼90 Days
0.9582
15 Jan 2020
3.1% ▼1 Year
0.9422
16 Jan 2016
1.5% ▼5 Years
0.7770
17 Jan 2011
19.5% ▲10 Years

NZD/AUD 10 year historic rates & change to 14-Jan-2021 : 0.9283

NZD/GBPChangePeriod
0.5354
07 Jan 2021
1.4% ▼1 Week
0.5270
15 Dec 2020
0.1% ▲30 Days
0.5115
16 Oct 2020
3.2% ▲90 Days
0.5076
15 Jan 2020
4% ▲1 Year
0.4534
16 Jan 2016
16.4% ▲5 Years
0.4856
17 Jan 2011
8.7% ▲10 Years

NZD/GBP 10 year historic rates & change to 14-Jan-2021 : 0.5277

NZD/FJDChangePeriod
1.4750
07 Jan 2021
0.5% ▼1 Week
1.4583
15 Dec 2020
0.6% ▲30 Days
1.4145
16 Oct 2020
3.8% ▲90 Days
1.4324
15 Jan 2020
2.5% ▲1 Year
1.3934
16 Jan 2016
5.3% ▲5 Years
1.4066
17 Jan 2011
4.3% ▲10 Years

NZD/FJD 10 year historic rates & change to 14-Jan-2021 : 1.4677

Forecasts for the New Zealand dollar change all the time, affected by news events and relative sentiment towards the New Zealand economy. This continually updated article reviews the latest forecasts from banks and FX experts as well as news and recent movements of NZD in the currency markets.

 
Please note that the opinions of our authors are their own and do not reflect the opinion of Best Exchange Rates and should not be taken as a reference to buy or sell any financial product.