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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
ALERT:1-DAY0.6% 🔔|
NZD/USD at 0.5969 was trading 5.8% below AVG:0.6339 with LO:0.5673 and HI:0.6732 (90 days). ALERT: Today NZD/USD is UP 0.6%
08-APR 2AM-NY 7AM-LON 2PM-HK 4PM-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+0.4%0.594706 Apr 2020
7 Day+0.4%0.595031 Mar 2020
30 Day-5.6%0.632708 Mar 2020
3 Month-10.2%0.665408 Jan 2020
1 Year-11.4%0.673808 Apr 2019
5 Year-21%0.756209 Apr 2015
10 Year-16.4%0.714110 Apr 2010

*For period to 07-Apr 21UTC when NZD/USD was 0.5972

 

NZD/AUD – Historical Rates

PeriodChange*NZD/AUDDate
1 Day-0.5%0.972206 Apr 2020
7 Day-0.2%0.969331 Mar 2020
30 Day+1.1%0.956808 Mar 2020
3 Month0%0.967708 Jan 2020
1 Year+2.3%0.946408 Apr 2019
5 Year-1.5%0.982409 Apr 2015
10 Year+26.3%0.766210 Apr 2010

*For period to 07-Apr 21UTC when NZD/AUD was 0.9678

 

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