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NZ dollar (NZD) forecasts

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.

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NZD in the markets

The New Zealand dollar fell against the US dollar to a 6-month low of $0.651 in mid-May after the Reserve Bank of New Zealand cut interest rates to 1.5 percent.

The kiwi was also struggling against CAD, JPY and EUR, among other currencies, and wasn’t being helped by a significant escalation in US-China trade tensions which saw speculative capital leave New Zealand for safer pastures.

NZD is also suffering due to its high correlation with the Australian dollar — a currency also likely to be pressured by an interest rate cut in the coming months.

NZD/USD – 6 month chart

NZD forecasts

Experts at Citibank said in April that any negative bias for NZD from monetary policy matters would likely be offset by Chinese reflation (a quarter of NZ exports go to China), creating a rangebound kiwi dollar in the coming months. Citi predicted NZD/USD 4.5 percent higher in 6-12 months’ time, at $0.68. Westpac, though, is expecting rates as they are, with its forecast being $0.65.

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

NZD/USD – Historical Rates

PeriodChange*NZD/USDDate
1 Day+0.42%0.649522 May 2019
1 Week-0.2%0.653516 May 2019
1 Month-1.98%0.665423 Apr 2019
6 Months-3.86%0.678424 Nov 2018
1 Year-5.82%0.692523 May 2018
5 Years-23.7%0.854824 May 2014
10 Years+5.28%0.619525 May 2009

*For period to 23-May 21UTC when NZD/USD was 0.6522

 

NZD/AUD – Historical Rates

PeriodChange*NZD/AUDDate
1 Day+0.11%0.944322 May 2019
1 Week-0.31%0.948216 May 2019
1 Month+0.82%0.937623 Apr 2019
6 Months+0.78%0.938024 Nov 2018
1 Year+3.28%0.915323 May 2018
5 Years+2.08%0.926024 May 2014
10 Years+19.25%0.792725 May 2009

*For period to 23-May 21UTC when NZD/AUD was 0.9453

 

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