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NZ dollar NZD forecasts for 2020

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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

NZD/USD – 6 month chart
NZD/USD at 0.6322 was trading 3% below the 90-day average 0.652 with a range 0.6314 to 0.6732. There are no current rate alerts.
25-FEB 5PM-NY 10PM-LON | 26-Feb 9AM-SYD

Growing fears of the coronavirus outbreak has moved the market into safer currencies such as the USD and away from AUD, NZD and CAD.

The threat of proxy war between the US and Iran in Iraq also pared back some of the gains the Kiwi had made coming into the New Year.

In December the New Zealand dollar has climbed back to US$0.66 it's highest value since July.

Against the Australian dollar, jumped to A$0.96 after being as low as A$0.92 in early November before starting a strong recovery upto current levels above A$0.95.

Robbing New Zealand's currency of better gains in 2019 have been reduced risk appetite spurred on by an escalation in the US-China trade standoff, and high correlations with other weak currencies, including the Australian dollar and yuan.

NZD forecasts

Citigroup analysts said in June that the RBNZ will likely be a policy follower (if other central banks cut or threaten to cut rates, they will too) with the intent of keeping kiwi exchange rates at competitive levels for NZ businesses.

In 3 months’ time, Citi expects NZD/AUD, NZD/USD and NZD/EUR at A$0.955, $0.66 and €0.59 respectively.

Risks to the above 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.

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

NZD/USD – Historical Rates

PeriodChange*NZD/USDDate
1 Day-0.3%0.634324 Feb 2020
7 Day-1.1%0.639318 Feb 2020
30 Day-3.8%0.657326 Jan 2020
3 Month-1.4%0.641327 Nov 2019
1 Year-8.2%0.688525 Feb 2019
5 Year-16%0.752826 Feb 2015
10 Year-9.2%0.696327 Feb 2010

*For period to 25-Feb 21UTC when NZD/USD was 0.6321

 

NZD/AUD – Historical Rates

PeriodChange*NZD/AUDDate
1 Day-0.2%0.959524 Feb 2020
7 Day+0.3%0.955118 Feb 2020
30 Day-0.9%0.966426 Jan 2020
3 Month+1.1%0.947527 Nov 2019
1 Year-0.3%0.959925 Feb 2019
5 Year-0.8%0.965326 Feb 2015
10 Year+23%0.778727 Feb 2010

*For period to 25-Feb 21UTC when NZD/AUD was 0.9575

 

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